Maldives recurrent expenditure falls by 4.5%
Recurrent expenditure totalled MVR 11.8 billion, compared to MVR 12.4 billion during the same period in 2024.
Top Stories
-
MIRA collects MVR 2.8B in Oct, exceeding forecast by 12.9%
-
MIRA responds to governor: Tax audits follow risk-based approach
-
Unpaid bills reach MVR 7B, Auditor General tells parliament
-
Governor says majority of tourism dollars remain outside banks
-
Govt targets MVR 2.8B from land sales, transfer fees by 2029
Recurrent expenditure from the state budget has decreased by 4.5% so far this year compared to the same period in 2024, according to the Weekly Fiscal Developments Report published by the Ministry of Finance.
As of 15 May, total government expenditure stood at MVR 12.9 billion, marking a 20.3% decline from MVR 16.2 billion recorded during the same period last year.
Recurrent expenditure totalled MVR 11.8 billion, compared to MVR 12.4 billion during the same period in 2024.
Breakdown of recurrent expenditure includes:
-
Salaries and allowances: MVR 4.8 billion, up 6.7% from MVR 4.5 billion last year
-
Administrative and operational expenses: MVR 7 billion, down from MVR 7.8 billion (a decrease of 10%)
Expenditure on subsidies, aid, and advertising dropped by 4.9% year-on-year. Subsidy payments alone amounted to MVR 1.3 billion, a decline of 23.7% from the same period last year.
However, expenditure on the Aasandha health insurance scheme rose by 24%. So far this year, MVR 829.4 million has been spent on Aasandha.
Capital expenditure also declined significantly, dropping from MVR 3.8 billion last year to MVR 1.1 billion this year.
