State expenditure reaches MVR 48.9 billion
Statistics show that the government has spent MVR 15.1 billion as Capital Expenditure
Ministry of Finance
The state expenditure had reached MVR 48 billion by 28 December, 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 spent MVR 48.8 billion by 28 December 2023, for the same period of 2022, the government expenditure was recorded at MVR 42.5 billion.
The total Recurrent and Capital Expenditure of the state currently sits at MVR 46.9 billion. During the same period of 2022, the total Recurrent and Capital Expenditure of the state sat at MVR 39.8 billion.
Ministry's statistics show that the state spent MVR 31.7 billion as Recurrent Expenditure. This include MVR 11.9 billion spent on Salaries, Wages and Pension of staff, as well as MVR 19.2 billion spent on Administrative and Operational Expenses.
As such, MVR 5.3 billion was spent on salaries and wages of staff and MVR 4.7 billion was spent on allowances. While MVR 1.3 billion was spent on pension of staff, MVR 592.2 million was spent on retirement benefits and gratuities.
During 2022, the state spent MVR eleven billion on Salaries, Wages and Pension of staff by 28 December. During this period MVR 19.2 billion was spent on Administrative and Operational Expenses.
Statistics show that MVR 2.3 billion was spent on Aasandha by 28 December.
Additionally, the state has so far spent MVR 3.9 billion on subsidies.
Finance Ministry stated that the government has so far spent MVR 1.9 billion as Council Grants.
Statistics show that the government spent MVR 15.1 billion as Capital Expenditure. For the same period of 2022, the government's Capital Expenditure was MVR 11.9 billion.
MVR 646.4 million was spent on Capital Equipment, and MVR 11.9 billion was spent on infrastructure Assets. This includes MVR 4.3 billion spent on Land and Buildings, MVR 3.8 billion spent on Roads, Bridges and Airports, as well as MVR one billion spent on Wharves, Ports and Harbors.
It is recorded that the state spent MVR 1.4 billion on investment outlays. The state has so far spent MVR 16.5 million on Development Projects.
Moreover, the government has spent MVR 1.12 billion as domestic lending and MVR 2.1 billion for Loan Repayment.
By 28 December 2023, MVR 954.2 million has been transferred to the Sovereign Development Fund.
