The Maldives has spent MVR 2.07 billion in loan payments this year alone, the latest Weekly Fiscal Development Report by the Ministry of Finance revealed. The latest repayment was made on 14 November.
Loan repayments stood at MVR 1.94 billion over the same period last year.
Approximately MVR 42.4 billion, of the sum total MVR 55 billion of the 2024 budget, has been exhausted thus far — a figure that amounted to MVR 41.8 billion during the same period last year.
Salaries and allowances totalled to MVR 11.2 billion, while administrative and operating expenditure came in at MVR 16.8 billion. Public Sector Investment Program (PSIP) development projects expenditure stood at MVR 8.7 billion.
The state has received MVR 29.5 billion in revenue so far this year, including MVR 22.5 billion in taxes and MVR 6.4 billion in non-tax revenue, while grant aid amounted to MVR 565 million.