Ministry of Finance has revealed an expenditure on development projects in the first 11 months of 2022 has doubled compared to the same period in 2021.
As per the Financial Statistics report published by the finance ministry, the government spent a total of USD520 million on development projects from January 1 to December 8 this year which is a 66.6% increase compared to the USD312 million spent during the same period last year.
The government has spent the most on the Thilamale' Bridge development project so far this year. The next largest expenditure was on harbour construction projects on islands and airport development projects. As such, a total of USD104 million has been spent on the bridge development project, USD57 million on harbour construction projects, and USD34 million on airport development projects during the first 11 months of the year, according to the report.
The government aims to have an airport within 30 minutes of every island in the Maldives. As part of the efforts to achieve the goal, Madivaru Airport in Lhaviyani Atoll was developed and opened in February this year. In addition, Faresmaathoda Airport and Alifushi Airport are currently under development.
According to the report, the government has spent a total of USD65 million to establish water and sewerage systems in the past 11 months compared to USD51 million spent during the same period last year. In addition, the government has also spent heavily on road construction projects. As such, a total of USD52 million has been spent on road modernisation projects, according to the finance ministry.
The government is working hard to make services easier for the people of all the islands in the Maldives. As such, 44 harbour development projects have already been completed and 37 harbours are under development, road construction has been completed in five islands with road construction is underway in 21 more islands. In addition, land reclamation projects have already been completed and seven more are underway across the country.