The state has spent more than MVR 17 billion by 11 May, 2023.
Statistics revealed by the Ministry of Finance shows 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 17.4 billion in 2023, for the same period of 2022, the government expenditure was recorded at MVR 13.7 billion.
The total Recurrent and Capital Expenditure of the state currently sits at MVR 16.5 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 12.9 billion.
Ministry's statistics shows that the state spent MVR 11.1 billion as Recurrent Expenditure. This include MVR 3.9 billion spent on Salaries, Wages and Pension of staff, as well as the MVR seven billion spent on Administrative and Operational Expenses.
As such, MVR 1.7 billion was spent on salaries and wages of staff and MVR 1.6 billion was spent on allowances. While MVR 425.8 million was spent on pension of staff, MVR 190.6 million was spent on retirement benefits and gratuities.
During 2022, the state spent MVR 3.7 billion on Salaries, Wages and Pension of staff by 11 May. During this period MVR 5.8 billion was spent on Administrative and Operational Expenses.
Statistics shows that MVR 870.3 million has been spent on Aasandha by 11 May.
Additionally, the state has so far spent MVR 1.6 billion on subsidies.
Finance Ministry states that the government has so far spent MVR 614.1 million as Council Grants.
Statistics show that the government spent MVR 5.4 billion as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 3.5 billion.
MVR 166.8 million was spent on Capital Equipment, and MVR 4.2 billion was spent on infrastructure Assets. This includes MVR 1.3 billion spent on Land and Buildings, MVR 1.4 billion spent on Roads, Bridges and Airports, as well as MVR 449.4 million spent on Wharves, Ports and Harbors.
It is recorded that the state spent MVR 579 million on investment outlays. The state has so far spent MVR 5.2 million on Development Projects.
Moreover, the government has spent MVR 431.4 million as domestic lending and MVR 957.6 million for Loan Repayment.
So far this year, MVR 381.4 million was transferred to the Sovereign Development Fund.