State expenditure reaches MVR 10.7 billion
MVR 624.5 million has been spent on Aasandha
Ministry of Finance
The state has spent more than MVR 10.7 billion by 23 March, 2023.
Statistics revealed by the Ministry of Finance show that the government expenditure is more than the amount they spent during the same period last year. As such, while the state has so far spent MVR 10.7 billion in 2023, for the same period of 2022, the government expenditure was recorded at MVR 8.7 billion.
The total Recurrent and Capital Expenditure of the state currently sits at MVR 9.9 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 8.5 billion.
Ministry's statistics show that the state spent MVR 6.5 billion as Recurrent Expenditure. This include MVR 2.1 billion spent on Salaries, Wages and Pension of staff, as well as the MVR 4.3 billion spent on Administrative and Operational Expenses.
As such, MVR 849.5 million was spent on salaries and wages of staff and MVR 857.8 million was spent on allowances. While MVR 318.9 million was spent on pension of staff, MVR 120.6 million was spent on retirement benefits and gratuities.
During 2022, the state spent MVR 1.9 billion on Salaries, Wages and Pension of staff by 23 March. During this period MVR 3.7 billion was spent on Administrative and Operational Expenses.
Statistics show that MVR 624.5 million has been spent on Aasandha by 23 March.
Additionally, the state has so far spent MVR 997.4 million on subsidies.
Finance Ministry states that the government has so far spent MVR 458.1 million as Council Grants.
Statistics show that the government spent MVR 3.4 billion as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 2.8 billion.
As such, MVR 59.6 million was spent on Capital Equipment, and MVR 2.6 billion was spent on infrastructure Assets. This includes MVR 898.4 million spent on Land and Buildings, MVR 803.8 million spent on Roads, Bridges and Airports, as well as MVR 309.9 million spent on Wharves, Ports and Harbors.
It is recorded that the state spent MVR 352.5 million on investment outlays.
Moreover, the government has spent MVR 406.1 million as domestic lending and MVR 788.9 million for Loan Repayment.
So far this year, MVR 220.7 million was transferred to the Sovereign Development Fund.
