NSPA goes MVR 683.6M over budget

National Social Protection Agency (NSPA) went MVR 683.6 million over the budget allocated for the agency in 2018, shows the monthly financial report published by Ministry of Finance.

The budget to NSPA for 2018 was MVR 1,286,100,000, but the agency spent MVR 1,969,700,000 by last Saturday – a figure MVR 683.6 million over the budget.

Several other State agencies have also gone over the budget.

The President’s Office has gone MVR 27.1 million over the budget, Judicial Service Commission (JSC) has gone MVR 28.2 million over the budget, Maldives Inland Revenue Authority (MIRA) has gone MVR 17.4 million over the budget, and Maldives Correctional Service has gone MVR 48 million over the budget.

Meanwhile, Maldives Police Service, which was allocated a budget of MVR 1.3 billion has gone MVR 77.3 million over the budget; and Maldives National Defense Force (MNDF) which was allocated a budget of MVR 1.1 billion has gone MVR 147.8 million over the budget.

Several ministries have also gone over the budget.

Ministry of Education, which was allocated a budget of MVR 2.6 billion has gone MVR 295.5 million over the budget; Ministry of Health which was allocated a budget of MVR 1.3 billion has gone MVR 167.7 million over the budget; and Ministry of Housing which was allocated MVR 1.9 billion has gone 90.2 million over the budget.

The State’s expenditure by the last week of 2018 is placed at MVR 24.9 billion, MVR 1 million more than the MVR 24.8 billion budgeted for the year.

The State’s income for the year is placed at MVR 20.5 billion, which falls short of the projected income of MVR 22.4 billion.