Ministry of Finance has revealed over USD395 million has been spent on economic, industrial and infrastructure development projects so far this year. The ministry published a detailed report in its weekly financial statistics sharing details of government expenditure and revenue.
As per the report, the government spent a total of USD395 million on infrastructure development from January to October 27 this year which is an increase of 56.4% compared to USD253 million spent on infrastructure development projects during the same period last year.
The main objective of the government this year is to solve many basic issues that have not been resolved for a long time and improve the quality of services required by the people. In this regard, the government has given special priority to addressing such issues in State Budget 2023.
A total of USD116 million has been spent on solving transportation issues, which is an increase of 38.4% compared to USD84 million spent on the sector during the same period last year. As such, the main project conducted to solve transportation difficulties is Greater Male’ Connectivity Project (GMCP). A total of USD 38.6 million on the project so far, as per the report.
Under the contract for GMCP, Indian-based Afcons Infrastructure Limited is tasked with bridging the link between Male' and Thilafushi, which includes a 6.7km sea crossing link from the southwest corner of Male', running adjacent to the south shore of Villimale’, then along the southern periphery of the reclaimed island of Gulhifalhu and terminating on the reclaimed island of Thilafushi.
Moreover, the government spent USD50 million on harbor development projects so far this year which is an increase of 64.7% compared to the USD30 million spent in the same period last year.
Meanwhile, President Ibrahim Mohamed Solih envisions making transportation easier for the people and opening up the main areas of Maldives economically. As such, a major portion of the expenses was on airport development projects across the country. The government spent USD30.9 million on airport development so far this year.
Furthermore, the majority of the infrastructure development projects were spent on land reclamation projects. Other projects include the development of roads and water drainage systems. The statistics show that USD70 million was spent on road development and land reclamation projects so far this year, while USD24 million was spent on similar projects during the same period last year.
In addition to road development projects and land reclamation projects, the government conducted many projects of establishing safe water and sewerage systems in the islands. As per the financial report, the government spent USD77 million on water and sewerage projects during this year. The government is establishing basic services in the islands regardless of the size of the population. A total of USD41.7 million has been allocated in the State Budget for 2023 to finance water and sewerage projects in 158 islands.