The government has spent MVR 957.6 million thus far this year to repay loans.
According to the Finance Ministry, 45.5 percent of the MVR 2.1 billion allocated in this year's budget for loan repayment, which is equivalent to MVR 957.6 million, has been utilized as of May 11. This represents a 33.4 percent increase compared to the same period last year when MVR 717.6 million was spent on loan repayments.
In total, the government has spent MVR 16.4 billion so far this year. Out of this, MVR 3.9 billion was used for salaries and allowances, MVR 7 billion for administrative and operating expenses, and MVR 4.2 billion for development projects under the Public Sector Investment Program (PSIP).
During this period, the government has generated MVR 12.2 billion in revenue, including MVR 9.2 billion from tax revenue.
