State expenditure exceeds MVR five billion
Government has so far spent MVR 306.3 million as Council Grants
Ministry of Finance
The state has spend MVR five billion by 16 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, while the state has so far spent MVR 5.2 billion in 2023, for the same period of 2022, the government expenditure was recorded at MVR 3.9 billion.
The total Recurrent and Capital Expenditure of the state currently sits at MVR 4.7 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 3.6 billion.
Ministry's statistics show that the state spent MVR 3.5 billion as Recurrent Expenditure. This include MVR 942.9 million spent on Salaries, Wages and Pension of staff, as well as the MVR 2.4 billion spent on Administrative and Operational Expenses.
As such, MVR 424 million was spent on salaries and wages of staff and MVR 362.9 million was spent on allowances. While MVR 105.8 million was spent on pension of staff, MVR 50.2 million was spent on retirement benefits and gratuities.
During 2022, the state spent MVR 914.6 million on Salaries, Wages and Pension of staff by 16 February. During this period MVR 1.7 billion was spent on Administrative and Operational Expenses.
Statistics shows that MVR 393.2 million has been spent on Aasandha by 16 February.
Additionally, the state has so far spent MVR 722.8 million on subsidies.
Finance Ministry states that the government has so far spent MVR 306.3 million as Council Grants.
Statistics show that the government spent MVR 1.2 billion as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR one billion.
As such, MVR 45.1 million was spent on Capital Equipment, and MVR 974.1 million was spent on infrastructure Assets. This includes MVR 457.2 million spent on Land and Buildings, MVR 218 million spent on Roads, Bridges and Airports, as well as MVR 124.9 million spent on Wharves, Ports and Harbors.
It is recorded that the state spent MVR 86 million on investment outlays.
Moreover, the government has spent MVR 99 million as domestic lending and MVR 494.4 million for Loan Repayment.
So far this year, MVR 116.7 million was transferred to the Sovereign Development Fund and MVR 797.9 million was spent on Public Sector Investment Programs (PSIPs).
