State expenditure reaches MVR 13 .5 billion

The state has spent more than MVR 13 billion by 13 April, 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 13.5 billion in 2023. For the same period of 2022, the government expenditure was recorded at MVR 11.2 billion.

The total Recurrent and Capital Expenditure of the state currently sits at MVR 12.8 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 10.6 billion.

Ministry's statistics show that the state spent MVR 8.8 billion as Recurrent Expenditure. This include MVR 2.9 billion spent on Salaries, Wages and Pension of staff, as well as the MVR 5.7 billion spent on Administrative and Operational Expenses.

As such, MVR 1.3 billion was spent on salaries and wages of staff and MVR 1.2 billion was spent on allowances. While MVR 318.7 million was spent on pension of staff, MVR 144.1 million was spent on retirement benefits and gratuities.

During 2022, the state spent MVR 2.8 billion on Salaries, Wages and Pension of staff by 13 April. During this period MVR 4.7 billion was spent on Administrative and Operational Expenses.

Statistics shows that MVR 783.1 million has been spent on Aasandha by 13 April.

Additionally, the state has so far spent MVR 1.4 billion on subsidies.

Finance Ministry states that the government has so far spent MVR 460.7 million as Council Grants.

Statistics show that the government spent MVR 3.9 billion as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 3.3 billion.

As such, MVR 85.6 million was spent on Capital Equipment, and MVR 2.9 billion was spent on infrastructure Assets. This includes MVR one billion spent on Land and Buildings, MVR 895.1 million spent on Roads, Bridges and Airports, as well as MVR 375.4 million spent on Wharves, Ports and Harbors.

It is recorded that the state spent MVR 510.5 million on investment outlays. The state has so far spent MVR 2.6 million on Development Projects.

Moreover, the government has spent MVR 413.3 million as domestic lending and MVR 816.9 million for Loan Repayment.

So far this year, MVR 287.6 million was transferred to the Sovereign Development Fund.