The government has spent MVR 1 billion on development projects under the Public Sector Investment Program (PSIP) thus far this year.
MVR 8.5 billion was allocated for PSIP projects in this year's budget.
According to the Finance Ministry, the government has spent MVR 1.14 billion on PSIP as of February 23. This is an increase of MVR 145.7 million over the same period last year, during which MVR 994.3 million was spent on PSIP projects.
The largest expenditure on PSIP projects thus far this year has been on land reclamation. In this regard, MVR 190.9 million has been utilized for land reclamation. Additionally, MVR 154.3 million has been spent on harbor construction projects, while MVR 141.1 million has been spent on road development projects. A further MVR 126.5 million was spent on housing projects, while MVR 63.3 million was spent on shore protection projects.
The statistics show that MVR 54.9 million was spent on bridge construction while MVR 94.8 million was spent on water and sewerage projects.
