The Ministry of Finance Maldives has reported that government expenditure has reached MVR 8.5 billion so far this year, MVR 2.5 billion lower than the MVR 11 billion spent during the same period last year.
The total approved state budget for the year stands at MVR 64 billion, with around 13 percent utilized to date.
The largest share of spending has gone towards recurrent costs, including office operations and staff salaries, which together total MVR 6.6 billion. Of this, MVR 2.7 billion was spent on salaries, while MVR 3.8 billion went towards administrative expenses.
The government also spent MVR 2.5 billion on grants and subsidies, according to the ministry.
MVR 665 million has been spent on projects so far, while MVR 1.4 billion has been used for debt repayments.
The state has received MVR 9.4 billion so far this year, including MVR 7.7 billion in tax income. Total revenue for the year is projected at MVR 40.4 billion.
