State expenditure on the Public Sector Investment Program (PSIP) has surpassed USD 71.4 million as of April 2, marking a significant 16.5 percent increase compared to the same period last year.
This accelerated spending pace underscores the government's heightened focus on infrastructure and social development projects across the nation.
The latest statistics released by the Ministry of Finance and Planning reveals a strategic allocation of funds across various sectors. While the economic sector, which includes major transport facility projects, received the largest share at USD 32.2 million, the most dramatic year-on-year increases were seen elsewhere.
Public services expenditure soared to USD 16.7 million, largely driven by the maintenance of state-owned lands. Health sector funding also saw a monumental rise, jumping to USD 7.7 million this year, aligning with its status as a top government priority.
Additionally, the combined sector of sports, culture, and religious affairs emerged as a major spender, with religious matters alone accounting for USD 3.3 million.
The government has emphasised that numerous projects, including 213 awarded on a contractor finance basis in December last year, are now progressing rapidly, indicating a sustained commitment to deploying its full USD 538.6 million PSIP budget for the year to improve the general social and economic situation.