The government has revealed a total of MVR 4.6 billion has been spent on Public Sector Investment Program (PSIP) Projects by August 2022.

Speaking during a press meeting at the President's Office, Spokesperson Miuvan Mohamed noted that by the month of August, MVR 4.6 billion has been spent on PSIP projects, including 477 million on housing projects, and MVR 718 million on land reclamation and road development projects.

According to statistics published by the Ministry of Finance, the same period for the previous year saw MVR 3.1 billion being spent on PSIP projects.

Statistics show that MVR 24.5 billion had been spent by the government by August. This included MVR 17.9 billion in recurrent expenditure and MVR 6.6 billion as capital expenditure.

The government budget for the year has allocated a total of MVR 6.3 billion for PSIP projects.

While the first quarter of the year saw MVR 2.5 billion PSIP Projects, it has been decided to run similar amounts of projects in the middle and final quarters of the year.