Statistics show the amount paid back by the state in loans are less than the repayment amount estimated for the year.
According to the Weekly Fiscal Development Report publicized by the Finance Ministry, this year the country has repaid around MVR 1 billion in loans thus far. However, the budget for 2019 budget allocated MVR 3 billion for loan repayment.
Under former President Yameen's reign, many loans were borrowed to initiate developmental projects in the Maldives. The current administration has been taking a number of loans as well, increasing the country's debt significantly.
According to the DET Bulletin of the final quarter of 2018, the debt incurred increased by MVR 18 billion from December 2016 - December 2018.
