Weekly Spending on Covid-19 related efforts hit MVR923.2m

Popular

The total spending towards Covid-19 health efforts stood at MVR923.2 million as of 04 June 2020.

According to the Ministry of Finance, the spending figure for the review period was a 3.5% increase from the previous week.

In terms of week-on-week spending the National Disaster Management Authority (NDMA) continued to be the front-line agency, recording a significantly higher spending compared to its peer agencies.

As per the ministry’s financial update, NDMA spent an approximate total of MVR30.0 million in the review week on operational services, medical consumables and requisites necessary for the Covid-19 related operations.

Meanwhile, other notable spending for the review week include increment in spending on medical consumables and construction of Covid-19 related facilities by Ministry of Health and Ministry of National Planning and Infrastructure.

Furthermore, Ministry of Finance reports as of 04 June 2020 56.7% of total spending was committed-spending.

Moreover, the total Economic Response Spending (ERS) stood at MVR302.0 million.

As per Ministry of Finance, the Covid-19 Economic Relief Package (ERP) was formulated to provide financial support and relief to individuals, households and businesses during the pandemic.

The financial support schemes under the ERP are all financed through the Covid-19 Trust Fund.

As such, it was reported disbursements worth MVR300.0 million were made to partnered banks for the implementation of the Covid-19 Recovery Loan Scheme.

Moreover, the National Social Protection Agency (NSPA) has been allocated with MVR2.0 million for the implementation of an income support scheme.

According to the latest update from Ministry of Finance, the spending from NDMA for the review week stood at MVR612.0 million, while spending from Ministry of Health stood at MVR142.6 million.

Comments