Official statistics publicized by the Finance Ministry has revealed that the Education Ministry accounts for the largest budget expenditure thus far this year.
According to the numbers, the budget expense of ministries and independent organizations amounted to approximately MVR 1.7 billion during the first five weeks of the year. This is a decline from the same period last year where budget expense were at MVR 2.2 billion.
While the Education Ministry was allocated a budget of MVR 3.3 billion for the year, the ministry has already spent a whopping MVR 232.5 million over the span of five weeks. However, in this duration last year, they spent a total of MVR 297 million.
The second highest expense was incurred by the Health Ministry. The Ministry spent a total of MVR 172.4 million from a budget of MVR 2.9 billion in the stretch of five weeks. Their expenditure amounted to MVR 126 million during the same period last year. While Maldives Police Service spent MVR 83 million from a budget of MVR 1.6 billion, MPS spent MVR 85 million during the same period last year.
Furthermore, whereas Maldives National Defense Force (MNDF) was allocated a budget of MVR 1.3 billion for the year, they have spent MVR 76 billion thus far. Last year, they spent MVR 94 million over the first five weeks of the year. In addition, while the Foreign Ministry incurred a total of MVR 35 million last year, they spent MVR 64 million from a budget of MVR 331.7 million so far this year.
Brief summary of budget expense;
- Total expense MVR 1.7 billion
- Education Ministry: MVR 232.5 million
- Health Ministry: MVR 172.4 million
- Police: MVR 83 million
- MNDF: MVR 76 billion
- Foreign Ministry: MVR 64 million
The government set a record budget of MVR 36 billion for the year. The state has collected a revenue of MVR 2.4 billion through tax and non-tax revenues thus far.
