Tuesday 18th Jun 2024
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Government projects

Expenditure on Development Projects MVR 1.3 Billion Less than Previous Year

The government by August 19, 2021, has spent MVR 1.3 billion less on development projects under the Public Sector Investment Program (PSIP) compared to 2020.
Weekly figures published by the Ministry of Finance show that the government has spent a total of MVR 1.7 billion on development projects under PSIP by August 19. MVR 3.1 billion was spent on PSIP projects within the same duration last year.
Although MVR 8.4 billion has been budgeted for PSIP, the government now expects expenditure to be MVR 6 billion.
The government has expended MVR 171 million on the health sector, and MVR 304.9 million on the development of harbors.
This year, MVR 79.6 million has been spent on housing projects and MVR 19.1 million on the construction of mosques.
While MVR 193.7 has been expended on development, MVR 88.5 has been used for land reclamation. The government has also expended MVR 46.4 million on ventures related to fishing and agriculture.