Statistics have shown that the government's recurrent expenditure has increased by 11 percent.
According to the Weekly Fiscal Development Report published by the Finance Ministry, MVR 14 billion has been spent on recurrent expenditure by August 26. MVR 12 billion was spent during the same period last year.
The report shows the Parliament approved a total budget of MVR 21 billion for recurrent expenses, out of which MVR 10 billion was been allocated for salary and pension payment. Out of this, MVR 6.4 billion has been utilized for staff salary payment, which is an increase compared to the MVR 6.3 billion spent last year.
The budget allocated for admistrative and operational expenses is MVR 11 billion. From this amount, MVR 7.5 billion has already been utilized. Last year, MVR 6 billion was spent during the same period.
The Finance Ministry said the total expenditure thus far this year is at 18.1 billion, while MVR 11 billion has been generated as revenue. The total budget for this year is MVR 33.4 billion, and the estimated revenue is MVR 11.2 billion.
