The Government has spent MVR 3.2 billion on Public Sector Investment Programme (PSIP) projects so far this year, the latest Weekly Fiscal Development Report shows.

The Ministry of Finance and Enterprises said MVR 8.3 billion has been allocated for PSIP projects in the 2026 State Budget. As of 16 July, MVR 3.2 billion had been utilised, compared with MVR 3.8 billion during the same period last year.

The economic sector accounted for the largest share of PSIP expenditure, receiving MVR 1.3 billion. Of this, MVR 997.6 million was spent on developing transport infrastructure.

Spending on the public services sector reached MVR 576.9 million, nearly double the MVR 290.3 million recorded during the same period last year. The majority of the expenditure was allocated to the development and maintenance of State-owned land.

The housing sector received MVR 480 million, representing a 123 per cent increase compared with MVR 215 million spent during the same period in 2025. Most of the funding was directed towards Government housing projects.

Meanwhile, expenditure on the health sector totalled MVR 206.1 million, up from MVR 73.2 million during the corresponding period last year.

The Ministry said the lower overall PSIP spending compared with last year reflects stronger management of project implementation. The Government has also introduced a Project Preparatory Fund in this year's budget to support project planning and feasibility studies before new development projects are launched.