Spending on PSIP, Aasanda decreases in November

  • MVR 1.1 billion recorded as earnings
  • Govt. expenditure slashed; reductions came from PSIP, Aasanda
  • Govt. expenditure at MVR 1.5 billion for November

K. Male' | Rushdha Rasheed | 22-January-2018 | Monday 10:47 | rushdhar | Business | 2,433

Maldives Monetary Authority (MMA) premises -- Photo by: google

Government’s tactic for reducing expenditure was to slash spending for Public Sector Investment Programs (PSIP) and health insurance scheme, Aasanda, as evident from statistics published by Maldives Monetary Authority (MMA) for the month of November 2017.

MMA Monthly Review for December, showed that last November the Government spent MVR 1.5 billion. This figure is a reduction of MVR 1.9 billion for the same period in 2016. MMA attributed this reduction in recurrent expenses associated with PSIP and Aasanda services.

MMA had not offered any details of measures taken to reduce additional expenditure.

While the Government had spent MVR 1.5 billion in November 2017, MVR 1.1 billion was recorded as earnings. This is a reduction of MVR 75 million from November 2016. Income from taxation, specifically from TGST had increased.

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