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DHIVEHI

Government prioritises infrastructure growth with MVR 12.4 billion PSIP allocation for 2025

31 Dec 2024

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Yumn Hassan

Photo: Passporter

The Ministry of Finance and Planning has reported total Government revenue of MVR 32.7 billion as of December 19, 2024, driven by tax revenues, non-tax revenues, and grants, while expenditure reached MVR 46 billion, with significant allocations for recurrent and capital expenses. Investments under the Public Sector Investment Programme (PSIP) amounted to MVR 10.3 billion, focusing on health, education, environmental protection, and housing infrastructure, with MVR 12.4 billion earmarked for PSIP projects in the upcoming budget. Moving forward, the Government plans to prioritise project profitability and establish a Project Preparatory Fund to ensure better planning and implementation of future initiatives.

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