The state budget expenditure so far this year has seen a decline compared to the same period last year.
According to the Weekly Fiscal Development Report released by the Finance Ministry, a total of MVR 1.8 billion has been utilized from the state budget as of January 25 this year. This is 21.6 percent lower than the MVR 2.3 billion spent during the same period last year.
As of January 25, recurrent expenditure and capital expenditure stood at MVR 1.4 billion while loan repayment stood at MVR 373.6 million. A total of MVR 223 million was spent on Public Sector Investment Program (PSIP) projects compared to MVR 494.4 million spent on PSIP projects during the same period last year.
Meanwhile, the government's revenue increased during the period compared to the same period last year. Revenue stood at MVR 1.8 billion this year as against the MVR 1.7 billion recorded during the same period last year.
