State expenditure exceeds MVR 3.9 billion
State spent MVR 446.4 million on Loan Repayment
Ministry of Finance
The state has spend MVR 3.9 billion by 02 February, 2023.
Statistics revealed by the Ministry of Finance show that the government expenditure is more than the amount they spend during the same period last year. As such, for the same period of 2022, the government expenditure was recorded at MVR 3.2 billion.
The total Recurrent and Capital Expenditure of the state sits at MVR 3.5 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 2.8 billion.
Ministry's statistics shows that the state spent MVR 2.7 billion as Recurrent Expenditure. This include MVR 941.2 million spent on Salaries, Wages and Pension of staff, as well as the MVR 1.8 billion spent on Administrative and Operational Expenses.
As such, MVR 423.1 million was spent on salaries and wages of staff and MVR 362.4 million was spent on allowances. While MVR 105.5 million was spent on pension of staff, MVR 50.2 million was spent on retirement benefits and gratuities.
During 2022, the state spent MVR 883.2 million on Salaries, Wages and Pension of staff between by 02 February. During this period MVR 1.2 billion was spent on Administrative and Operational Expenses.
Statistics shows that MVR 334.6 million has been spent on Aasandha by 02 February.
Additionally, the state has so far spent MVR 443.2 million on subsidies.
Finance Ministry states that the government has so far spent MVR 155.8 as Council Grants.
Statistics show that the government spent MVR 765.8 million as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 720.6 million.
As such, MVR 12.6 million was spent on Capital Equipment, and MVR 646.8 million was spent on infrastructure Assets. This includes MVR 265.4 million spent on Land and Buildings, MVR 154.6 million spent on Roads, Bridges and Airports, as well as MVR 106.7 million spent on Wharves, Ports and Harbors.
It is recorded that the state spent MVR 57.3 million on investment outlays.
Moreover, the government has spent MVR 48.9 million as domestic lending and MVR 446.4 million for Loan Repayment.
So far this year, MVR 89.6 million was transferred to the Sovereign Development Fund and MVR 651.7 million was spent on Public Sector Investment Programs (PSIPs).
