The amount spent so far in 2021 on repaying various foreign loans taken out by the state has exceeded MVR 840 million, the finance ministry said.
The Maldives government has spent MVR 840.7 million repaying foreign loans as of October 14, according to finance ministry data, an increase of MVR 83 million over MVR 756.5 million paid during the same period in 2020.
The data also showed that the government has spent MVR 22.9 billion so far in 2021, compared to MVR 22.1 billion spent in the same period last year.
In 2021, the government has recorded MVR 17.6 billion in recurring spending, of which MVR 7.6 billion was spent on wages, allowances, and pension fund.
The government’s overall capital expenditure was MVR 5.3 billion, which included investment on capital equipment, buildings, land, and infrastructure assets.
Furthermore, while MVR 3.5 billion was placed in the sovereign development fund, MVR 1.1 billion was distributed to local governments as block grants.
The government reported a total income of MVR 15.1 billion so far in 2021, which is MVR 7.8 billion less than the total spending of MVR 22.9 billion.
