Year on year state expenditure decreases by over USD 2.7 million

Central Bank, Maldives Monetary Authority (MMA) says that state expenditure during September 2017 has decreased by over USD 2.7 million compared to the same period last year.

The latest Economic Review published by MMA shows that state expenses stood at over USD 1.03 billion in September this year. State expenses stood at USD 4.9 billion in September 2016. The fluctuation in expenses was attributed by MMA, to a slight increase in the capital expenses and decrease in recurrent expenses of the state.

According to MMA, the increase in capital expenses of the state is due to increase in public sector investment programs, while the decrease in recurrent expenses were due to the decline in loan prices.