The government has spent MVR 2 billion on loan repayment thus far this year.
According to the latest Weekly Fiscal Development Report released by the Finance Ministry, MVR 2.07 billion was spent on loan repayment as of November 14. This marks an increase from MVR 1.94 billion spent on loan repayments during the same period last year.
Overall government expenditure this year has reached MVR 42.4 billion, slightly higher than the MVR 41.8 billion recorded during the same period last year. Expenses incurred include MVR 11.2 billion on employee salaries and allowances, MVR 16.8 billion on administrative and operating expenses, and MVR 8.7 billion on the Public Sector Investment Program (PSIP).
On the revenue side, the government has received MVR 29.5 billion in revenue so far this year. This includes tax revenue of MVR 22.5 billion and non-tax revenue of MVR 6.4 billion. In addition, MVR 565 million was received as free aid.
