Economy economy / budget Thilamalé Bridge Impact 8.0/10 1 min read

Development Spending Down 16%

Spending on Public Sector Investment Program (PSIP) projects fell by 16% in 2024 compared to 2023, according to Ministry of Finance data. As of November, spending totaled MVR 8.8 billion against a budget of MVR 8.9 billion, down from MVR 10.5 billion in the same period last year. The largest expenditures were on airport development (MVR 2.3 billion), land reclamation (MVR 2 billion), Thilamalé Bridge (MVR 956 million), water and sewerage (MVR 527 million), road construction (MVR 525 million), and housing (MVR 577 million).

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Maldives Republic

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Dec 2, 2024

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Spending on Public Sector Investment Program (PSIP) projects fell by 16% in 2024 compared to 2023, according to Ministry of Finance data. As of November, spending totaled MVR 8.8 billion against a budget of MVR 8.9 billion, down from MVR 10.5 billion in the same period last year. The largest expenditures were on airport development (MVR 2.3 billion), land reclamation (MVR 2 billion), Thilamalé Bridge (MVR 956 million), water and sewerage (MVR 527 million), road construction (MVR 525 million), and housing (MVR 577 million).

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Maldives Republic

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