Gov spending on losses and write-offs top MVR 81.8m

Finance Ministry headquarters in Male' City. (Sun Photo/Fayaz Moosa)

The government has spent nearly MVR 82 million on losses and write-offs so far this year.

According to the weekly fiscal report, the government spend MVR 81.8 million on losses and write-offs as of March 21. The figure is MVR 15.8 million less than during the corresponding period last year.

The budgetary allocation for losses and write-offs this year is MVR 101 million. However, the government had spent, MVR 557 million, five times that amount, last year.