Loan repayment expenditure has increased by 22 percent.
According to the Finance Ministry, the loan expenditure stood at MVR 857.2 million as of April 27. This is a 22 percent increase over the MVR 700.5 million spent on loans during the same period last year. The budget estimates that MVR 2.1 billion will be spent on repaying loans this year.
The Finance Ministry said the total expenditure so far this year is MVR 14.8 billion, an 18 percent increase over the same period last year. Expenditure on salaries, allowances, and pensions stood at MVR 3.7 billion, while administrative and operating expenses stood at MVR 6.4 billion. Over MVR 4 billion has been spent on the Public Sector Investment Program (PSIP) thus far this year.
The state received MVR 10.4 billion in revenue as of April 27. These include tax revenue of MVR 7.8 billion and non-tax revenue of MVR 2.5 billion.
