The government expenditure has crossed MVR 11 billion.
According to the Finance Ministry, government expenditure was above MVR 11 billion in the first three months of the year. This is an increase of MVR 1.64 billion over the same period last year. Government expenditure stood at MVR 9.4 billion in the first three months of 2022.
According to statistics, the government's expenditure exceeded its revenue by MVR 3.3 billion this year. While MVR 2.8 billion was spent on salaries, allowances, and pensions, MVR 4.7 billion was spent on administrative and operating expenses. A further MVR 2.6 billion was spent on development projects under the Public Sector Investment Program (PSIP), and another MVR 788.9 million on loan repayment.
The state has received MVR 8.4 billion in revenue thus far this year. This is an increase of MVR 1 billion over the same period last year. Tax revenue stood at MVR 6.7 billion, while non-tax revenue stood at MVR 1.7 billion.
