Gov't expenditure crosses MVR 4 bln

The government's expenditure thus this year has crossed MVR 4 billion.

According to the weekly fiscal data released by the Finance Ministry, government expenditure stood at MVR 4.1 billion for the 61 days from January 1 to March 2. This is an increase of MVR 911.3 million over the same period last year. The government spent MVR 3.2 billion during the same period last year.

From January 1 to March 2, MVR 945.4 million was spent on salaries, allowances, and pensions, while MVR 1.8 billion was spent on administrative and operating expenses. Capital expenditure so far stands at MVR 821.4 million, while loan repayment stands at MVR 445.8 million.

Of the government expenditure, MVR 1.3 billion was spent on infrastructure development projects under the Public Sector Investment Program (PSIP).

The government received MVR 4.1 billion in revenue during the first 61 days of the year. Tax revenue stood at MVR 3.5 billion, while non-tax revenue stood at MVR 639.8 million.