Sunday 21st Apr 2024
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Development

Govt Expenditure on Development Projects Reduced

Government expenditure on the Public Sector Investment Program (PSIP) by August 12, 2021, shows a significant decrease compared to the previous year.
Figures published by the Ministry of Finance show that the state spent MVR 1.6 billion on PSIP by August 12, a decrease of MVR 1.2 billion from the MVR 2.8 billion spent within the same period last year.
The total budget for PSIP this year is MVR 10,454.8 million. There has been a considerable reduction in expenditure for development projects since President Ibrahim Mohamed Solih assumed office.
The total budget for PSIP this year is MVR 10,454.8 million. There has been a considerable reduction in expenditure for development projects since President Ibrahim Mohamed Solih assumed office.