The budget for next year includes MVR 500 million to increase the salaries of civil servants, says the Ministry of Finance.
The salary increase for 44,281 government employees will be increased by at least 40 percent from January next year. Therefore, the Ministry of Finance has prepared the budget with these figures.
One of the biggest expenditure areas in the MVR 49.5 billion budget for next year is employee salaries. That's a quarter of the budget. The budget estimates that salaries alone will cost MVR 11.9 billion.
Since last year, the government has been working to reduce the pay gaps and harmonize pay to address the problems in the pay structure of public servants.
From the estimated budget for next year, after deducting debt and loan repayments, the total budget expenditure stands at MVR 47.3 billion. Of this, MVR 34.8 billion is expected to be spent on recurrent expenditure, MVR 8.6 billion on PSIP, and MVR 6 billion on other capital expenditures.
According to the budget, MVR 33.5 billion is expected to be received next year. Of which, MVR 25.6 billion will be tax revenue, MVR 6.6 billion will be received as other income, and MVR 1.3 billion is expected to be received in grants.
The salary increase for 44,281 government employees will be increased by at least 40 percent from January next year. Therefore, the Ministry of Finance has prepared the budget with these figures.
One of the biggest expenditure areas in the MVR 49.5 billion budget for next year is employee salaries. That's a quarter of the budget. The budget estimates that salaries alone will cost MVR 11.9 billion.
Since last year, the government has been working to reduce the pay gaps and harmonize pay to address the problems in the pay structure of public servants.
From the estimated budget for next year, after deducting debt and loan repayments, the total budget expenditure stands at MVR 47.3 billion. Of this, MVR 34.8 billion is expected to be spent on recurrent expenditure, MVR 8.6 billion on PSIP, and MVR 6 billion on other capital expenditures.
According to the budget, MVR 33.5 billion is expected to be received next year. Of which, MVR 25.6 billion will be tax revenue, MVR 6.6 billion will be received as other income, and MVR 1.3 billion is expected to be received in grants.
