Maldives spent MVR 161.1 million on loan repayments during the first and-a-half month of this current year.
The weekly monetary report published by Finance Ministry show that the state’s overall spending, as of February 11, stands at MVR 2 billion. It incorporates MVR 1.5 billion on intermittent spending and MVR 545.6 million on capital spending.
The state additionally spent MVR 197 million on Public Sector Investment Program (PSIP) projects during this time frame.
Currently, the state’s revenue as of February 11 stands at MVR 2.2 billion. It incorporates MVR 1.9 billion in tax revenue and MVR 261 million in non-tax revenue.
Maldives has passed a financial budget of MVR 34 billion for the current year while the projected revenue is MVR 21 billion.
Government revenue has steadily increased after the damaging effects of the COVID-19 Pandemic. Many remain hopeful that the growth will sustain for the rest of the year.