Cumulative expenditure of Maldives govt hit MVR406.6m

Source: Avas

The cumulative total expenditure as of 16 January 2020 has reached MVR406.6 million according to Ministry of Finance.

In the recent update of the Ministry’s Weekly Fiscal Development, it was reported the recurrent expenditure as of the review week reached MVR246.2 million.

Drawing comparison from the corresponding period in 2019, it was identified that the state expenditure increased significantly for the current year. The cumulative total expenditure for the same period last year was only at MVR188.1 million.

Meanwhile the recurrent expenditure’s figure for the same fiscal period last year was lower than the current year at MVR174.0 million.

Under the recurrent expenditure component, state has spent MVR33.4 million already, on the salaries, wages and pensions of public sector employees whereas in the same period last year the spending reached a mere MVR9.9 million.

As for the administrative and operational expenses under recurrent expenditure, state’s spending has reached MVR212.8 million for the review period, while in the corresponding period in 2019 the amount spent was MVR163.9 million.

Capital expenditure of the state showed significant rise in 2020, with the government already spending MVR160.4 million under the expense component. In 2019, during the same period the Maldives government had spent MVR14.1 million for capital expenses.