Finance Ministry Reports MVR 10.7 Billion Expenditure in PSIP

According to the Ministry of Finance’s data released as of December 7, 2023, the Maldivian Government has allocated MVR 10.7 billion for Public Sector Investment Programs (PSIP).

The highest expenditure, MVR 3.1 billion, is allocated to the transport sector. This includes MVR 1.4 billion for airport development, MVR 976 million for harbour development, and MVR 726 million for bridge development.

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Road development and land reclamation projects have received MVR 3 billion, with MVR 1.8 billion dedicated to land reclamation and MVR 1.2 billion to road development.

Water and sewerage development projects account for MVR 1.3 billion, distributed as MVR one billion for water and sewerage systems in islands, MVR 170.1 million for water systems, and MVR 77.2 million for sewerage system installation. Housing and infrastructure projects have seen an expenditure of MVR 889.8 million, as per the Ministry’s statistics.

Environmental protection initiatives have received MVR 836.6 million, including MVR 216.8 million for coastal protection, MVR 234.4 million for waste management, MVR 25.3 million for water drainage systems, and MVR 360.1 million for renewable energy projects.

The education sector has been allocated MVR 486.2 million.

Social and religious services have received MVR 331.6 million, comprising MVR 185.3 million for sports development, MVR 72 million for social sector projects, and MVR 74.2 million for mosques.

The health sector has been allocated MVR 341.7 million, while fisheries and agriculture projects have received MVR 142.8 million.

National Security and Public Order have seen an expenditure of MVR 135.8 million, with allocations for the police, court buildings, penitentiary, customs, and rehabilitation.

General administration projects have received MVR 110 million, including MVR 74.3 million for office construction and MVR 35.6 million for the development of councils.

According to Finance Ministry statistics, the Maldivian Government’s total expenditure is reported at MVR 44.3 billion, with government revenue standing at MVR 30.8 billion.

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