Over 97 percent of the budget allocated for the Public Sector Investment Program (PSIP) has been utilized.
The state budget for PSIP projects this year is MVR 8.5 billion.
According to the Finance Ministry, the expenditure on PSIP stood at MVR 8.3 billion as of September 28. While MVR 5.4 billion was spent on PSIP projects during the same period last year, this year's figure is up 52 percent.
The highest expenditure was on land reclamation, totaling MVR 1.2 billion, followed by airport projects at MVR 1.1 billion and water and sewerage projects at MVR 1 billion. Road construction projects cost MVR 980 million, harbor projects MVR 846 million, and bridge projects MVR 688 million.
