Gov't expenditure increases by 16.5 percent

Government spending thus far this year has increased by 16.5 percent over the same period last year.

According to the Finance Ministry, government expenditure stood at MVR 8.2 billion as of March 9. Expenditure stood at MVR 7 billion during the same period last year.

The statistics show MVR 1.8 billion was spent on salaries, allowances, and pensions, while MVR 3.6 billion was spent on administrative and operating expenses. An additional MVR 541.2 million was spent on the repayment of loans, while MVR 1.4 billion was spent on development projects and the Public Sector Investment Program (PSIP).

Under the PSIP, MVR 264.4 million was spent on port projects, MVR 212.4 million on road development, and MVR 191 million on land reclamation. MVR 155.3 million was spent on housing projects, while MVR 148.1 million was spent on water and sewerage projects. The bridge project has incurred MVR 72.3 million thus far this year, while airport projects incurred MVR 33.3 million.

The government received MVR 6.3 billion in revenue during the period. These include tax revenue of MVR 5.4 billion and non-tax revenue of MVR 885.8 million.