MVR 233 million spent on loan repayments

Finance Minister Ibrahim Ameer. (Photo/President's Office)

Maldives spent MVR 233.6 million on loan repayments within the first two weeks of this year. 

Maldives spent MVR 233.6 million on loan repayments between January 1-13, show the weekly fiscal developments released by the Finance Ministry. 

The figure is over three times higher than the MVR 65.8 million in loan repayments made during the same period last year. 

Maldives is braced to pay over MVR 2.8 billion in loan repayments this year. 

The weekly fiscal report shows that the state’s expenditure as of January 13 stoods at MVR 380.6 million. It includes MVR 247.2 million on recurrent expenditure and MVR 133.4 million on capital expenditure. 

Meanwhile, the state’s income stood at MVR 330.4 million. It includes MVR 213.9 million in tax revenue and MVR 115.9 million in non-tax revenue.