The Ministry of Finance has released previously held back Weekly Fiscal Development reports since publications were halted on 20 June.
The newly released data showed that salary and pension payments, as well as administrative and operating expenses, were higher compared to the same period last year. Costs rose, even as the administration was reiterating that it was making concerted efforts to cut costs, data released on Tuesday showed.
Up to the point when the regular publication of the weekly reports showing how the state budget was being managed was halted, total expenditure was lower than in the same period last year.
According to the latest Weekly reports, recurrent expenditure was significantly higher.
Expenditure | Amount Spent in MVR | Amount Increased in MVR |
Recurrent | 27.2 billion | 2.1 billion |
Wages and Pensions | 10.2 billion | 1.2 billion |
Administrative and Operating | 16.8 billion | 1 billion |
While recurrent expenditure increased, capital expenditure remained lower than last year, due mainly to the suspension of spending on Public Sector Investment Programme (PSIP) projects.
However, according to observers, capital expenditure is also expected to spike by the end of the current year.