The Ministry of Finance has revealed that the operational expenses are lower in the new administration than during the previous government.
The Weekly Fiscal Developments report shows that the administration has incurred USD25 million in recurrent expenditure as of January 11 this year. The amount is 25% lower than the USD37 million incurred by the previous government during the same period last year.
The majority of recurrent expenditure went to administrative and operational expenses, with USD24 million spent as of January 11 this year and USD33 million spent in the same period last year. In addition, USD279,000 was spent on salaries, wages, and pensions in 2024 while USD383,000 was spent in 2023.
A USD3.2 billion state budget was approved for this year and the country's debt reached a record USD7.7 billion when the new administration took over. President Dr. Mohamed Muizzu has pledged to implement strong and swift measures to overcome the financial challenges.