The Government has spent MVR 3.8 billion on Public Sector Investment Programme (PSIP) projects as of 27 August, according to the Ministry of Finance.

The latest Weekly Fiscal Development Report estimates total PSIP expenditure at MVR 8.3 billion for the year. Spending during the same period last year stood at MVR 5.4 billion.

The economic sector recorded the highest expenditure at MVR 1.6 billion, with the largest share spent on tourism-related projects.

More than MVR 646 million was spent on general public services, while MVR 539 million went towards environmental protection and MVR 242 million towards health.

The Finance Ministry said the lower PSIP expenditure reflects efforts to manage project spending more efficiently.