• November 24, 2022

English Project

  • Freelancer Type
  • Project Duration
  • Level
  • English Level Fluent
  • Languages Arabic English
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From the proposed expenditure total for 2023, 70 percent of its total will reportedly be spent on salaries of public sector employees as well as administrative and operational expenses; which translates to MVR 29 billion. Another MVR 14 billion has been apportioned to Public Sector Investment Program (PSIP), which focuses on infrastructural and urbanization efforts across the country. Main Budgetary Elements - Total Budget: MVR 42.6 billion - Projected Revenues (inclusive of Grants): MVR 32 billion - Approved Expenditure: MVR 40.5 billion - Deficit (annual): MVR 14.4 billion - State Debt (by year end): MVR 113 billion Based on revenues inclusive grants compared against expenditure, state is in need of an additional MVR 11.3 billion to constrict the deficit gap to MVR 8.9 billion from MVR 14.4 billion. State will reportedly spend MVR 1.1 billion on loan repayment, while it expects to transfer MVR 4.8 billion to Sovereign Development Fund (SDF). Maldives government aims to secure financing, to narrow the deficit gap, through T-bill or blue bonds transactions in the foreign market with the subsequent sale of T-bills and bonds in the Maldivian market.

Project ID:RH-2978-lancer

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Vivien Osinski @VivienOsinski

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