The Edition


Govt expenditure at MVR 4,000 in first 5 days of 2019

Ahmed Aiham
08 January 2019, MVT 13:56
Minister of Finance Ibrahim Ameer. PHOTO: AHMED NISHAATH/MIHAARU
Ahmed Aiham
08 January 2019, MVT 13:56

Ministry of Finance's Weekly Fiscal Developments revealed that only MVR 4,013 was spent as government expenditure during the first five days of January.

The administration was open for just two days the past week.

According to the financial report, Ministry of Home Affairs spent MVR 2,600, Ministry of Health spent MVR 1243, while the Tax Appeal Tribunal expended MVR 95, and Maldives Inland Revenue Authority (MIRA) spent a total of MVR 75.

No other government administrative departments have used the state budget.

There are total 52 state institutions managed through the state budget.

According to the Ministry, most of the large expenditures are undertaken at the end of the fiscal year. Moreover, the ministry added state expenditure is negligible during the starting period of the year.

The state budget for the year 2019 is MVR 30.2 billion, which includes MVR 23.2 billion in projected state revenue. However, state expenditure is projected to stand at MVR 27 billion.