Tuesday 15th Jun 2021
Dhivehi Edition
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Development

Expenditure on Development Projects Decreased

Statistics reveal that the Maldivian government’s expenditure on Public Sector Investment Programmes (PSIP) through 27th of May this year is significantly lower compared to the same period last year.
Statistics published by the Ministry of Finance show that the government spent MVR 1238 million towards PSIP from the 1st of January to the 27th of May, while PSIP expenditure for the same period in 2020 was recorded at MVR 1876 million. This is a decrease of 34 percent.
The total amount budgeted for PSIP projects for the year 2021 is MVR 10,454.8 million. Since President Ibrahim Mohamed Solih assumed office, government expenditure towards PSIP projects has decreased considerably.
However, the incumbent government has long claimed that they are running more development projects in the country than any previous administrations.