Largest PSIP expenditure of 2021 undertaken on harbour development

Ministry of Finance has revealed the largest expenditure from the Public Sector Investment Programme (PSIP) budget of 2021 was undertaken on harbour development projects in islands.

As per the statistics of the finance ministry, the government has spent USD 161.8 million on PSIP projects so far this year, which is significantly lower compared to the USD 252.5 million spent last year. The largest expenditure was undertaken on harbour development projects, with USD 29.3 million spent on such projects so far this year. Another USD 28.8 million was spent on water and sewerage projects, while USD 28.5 million was spent on healthcare and social development projects.

As per the statistics, the government has spent USD 6.5 million on land reclamation this year, down from USD 48.8 million spent on such projects last year. The government has also spent USD 19 million the bridge project and USD 6.3 million on airport development projects.

The statistics further revealed USD 15.9 million has been spent so far this year on road development projects, with another USD 10.6 million spent on housing projects. Meanwhile, USD 4.3 million has been spent on waste management.

The finance ministry revealed the government has spent a total of USD 1.48 billion from the state budget this year. The government had generated an income of USD 984 million during this period.