By Ibrahim H.Shihab/Maldives Republic
Male, December 6:Spending on Public Sector Investment Program (PSIP) projects fell by 16 percent this year compared to 2023, data from the Ministry of Finance has revealed.
While the National Budget 2023 allocation for PSIP projects stood at MVR 8.9 billion, spending as of November amounted to MVR 8.8 billion — MVR 1.7 billion less than the MVR 10.5 billion spent over the same period last year.
The largest PSIP spending this year was on airport development projects, with MVR 2.3 billion. A sum of MVR 2 billion was spent on land reclamation projects.
Spending on the Thilamalé Bridge accounted for MVR 956 million, while MVR 527 million was spent on water and sewerage projects, MVR 525 million on road construction projects, and MVR 577 million on housing projects.
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