Over MVR 13 billion has been utilized from the state budget on loan repayment thus far this year.
According to the latest Weekly Fiscal Development Report released by the Finance Ministry, the total expenditure on loan repayments was at MVR 13.5 billion as of the 25th of last month, a decrease from MVR 15.8 billion recorded during the same period last year.
Excluding loan repayment expenditure, the government's total expenditure amounted to MVR 12.6 billion during the period. Of this, MVR 9.7 billion, which accounts for 77 percent of the expenditure, was spent on recurrent expenditure. Additionally, MVR 3.2 billion was allocated for salaries, allowances, and pensions, while MVR 6.3 billion was utilized for administrative and operating expenses. A further MVR 1.6 billion was utilized for the Public Sector Investment Program (PSIP).
Meanwhile, the government collected MVR 11.1 billion as revenue so far this year, including MVR 9.2 billion in tax revenue and MVR 1.8 billion in non-tax revenue.
