State's recurrent expenditure reaches MVR 1.6 billion!
Majority of the recurrent expenses were on wages and pensions, followed by administrative and operational costs.
Reclamation for Hoarafushi airport project
Statistics from the Ministry of Finance has revealed that the state's recurrent expenditure has reached MVR1،645.8 (one thousand six hundred and forty five-point eight) billion as of the second week of February.
According to the publicised statistics, the majority of the recurrent expenses were on wages and pensions, followed by administrative and operational costs.
While the state has spent MVR 831.4 (eight hundred and thirty-one point four) million on wages this year, this is MVR 39.1 million more than the amount incurred in the same period last year.
Likewise, MVR 813.7 (eight hundred and thirteen point seven) million was spent on administrative and operational costs - an amount MVR 200.1 (two hundred point one) million more than the amount incurred in the same period of 2019.
As for the government's capital expenditure, the state spent MVR 381.8 (three hundred and eight one point eight) million more than the same period last year at a total of MVR 903 (nine hundred and three) million.
While the state has generated 2،657.7 (two thousand six hundred fifty-seven point seven) in revenue up to date, a total of 2،548.8 (two thousand five hundred forty-eight point eight) has been incurred as state expenditure. Therefore, state income currently has MVR 33.6 (thirty-three point six) million remaining.
