Monday
25th Nov 2024
Dhivehi Edition
Finance Minister Ibrahim Ameer.
The Finance Ministry’s statistics show that this year’s budget’s deficit has risen to MVR 10.6 billion.
Based on the weekly statistics published by the Ministry of Finance, the government had earned MVR 16.8 billion as of the November 18. In that period, the government had spent MVR 26.9 billion.
As per the published statistics, this amounts to a deficit of MVR 10.6 billion within this period. This extra expenditure had been financed by external and domestic loans.
The largest expenditure had gone towards recurrent costs, at MVR 19.7 billion; which is MVR 2.8 billion more than what the government had earned.
Within this same period, PSIP projects had received MVR 4.2 billion in government spending; roughly half of the budgeted MVR 8.4 billion.
Next year’s budget is expected to have a deficit of approximately MVR 9 billion.