Recurrent expenditure hits MVR1.2b, MVR114.0m on projects

Image Source: Finance Ministry

The cumulative expenditure as of 30 January 2020, has reached MVR1,254.5 million (MVR1.2 billion) according to Ministry of Finance.

In their Weekly Fiscal Development, the ministry revealed the cumulative total of capital expenditure, meanwhile, had reached MVR241.8 million.

According to the statistics, both spending compositions showed higher expenses compared to the corresponding period in 2019.

In 2019, as of the same fiscal period the cumulative total of recurrent expenditure was at MVR1,117.2 million and the cumulative total of capital expenditure was at MVR108.6 million.

Meanwhile, Maldives state has spent MVR820.7 million on salaries, wages and pensions of public sector employees. At the same time the government’s administrative and operational expenses have reached MVR433.8 million.

While a total of MVR950.8 million have been budgeted for 2020 for the expense of Aasandha – state initiated health insurance scheme – it has not been spend so far. However, state has already spent MVR130.9 million on government subsidies against a budgeted MVR1,049.3 million.

Under the capital expenditure, MVR1.4 million has been spent on Capital Equipment while another MVR126.4 million has been spent on infrastructure assets.