Foreign aid to Maldives government reaches MVR385m

Photo: Mihaaru News

Statistics of the Maldives Ministry of Finance has revealed that the Maldivian government has received MVR385.4m as foreign aid.

The information was disclosed to the public through the Ministry’s weekly fiscal report. According to the report, the Maldivian government received MVR100,000 in foreign aid the previous week and it went up to MVR385.4m by the following week.

The foreign aid the government received during the previous week is 28% of the initial forecast value for the year 2019.

The Indian government issued foreign aid for budget support, which is a total of USD50m was partially received to Maldives government – exactly USD25m during January 2019.

The government forecasts that the state will receive MVR1.3b in foreign aid during the entire run of 2019. From the forecast foreign aid, MVR712m will be injected into government-initiated projects while another MVR640m will be received as physical currency.

In addition, another MVR335m forecast as foreign aid for the state will be injected into projects that are already progressing under previous grants and foreign aids. The remaining MVR320m is forecast by the government to acquire within the current year.

According to the statistics, government revenue for the previous week increased to MVR797m from last week, increasing the total to MVR3.5b.

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