Gov't expenditure crosses MVR 2.4 bln

Government expenditure has crossed MVR 2.45 billion thus far this year, according to the Finance Ministry.

According to the weekly figures released by the Finance Ministry, MVR 163.7 million was spent on salaries, allowances, and pensions from January 1 to January 26. Administrative and operating expenses stood at MVR 1.4 billion during the period. During this period, capital expenditure stood at MVR 610.4 million, while loan repayment stood at MVR 349.8 million.

Government expenditure currently averages MVR 94.5 million per day.

The state's revenue during the first 26 days of the year was higher than in the same period last year. Revenue stood at MVR 2 billion this year as against MVR 1.3 billion in the same period last year. Of this, tax revenue accounted for 88 percent at 1.81 billion, while non-tax revenue stood at MVR 245 million.