Grant assistance received by the state at the end of eight months of this year has decreased by MVR 200 million compared to the same period last year.
According to statistics published by the Finance Ministry, the state received MVR 203.1 million in grant assistance as of August 28th – a decrease compared to MVR 371.1 million received during the same period last year.
This accounts for just eight percent of the MVR 2.6 billion protected to be received in grant assistance so far this year.
Amidst the dip in grant assistance, Foreign Minister Dr. Abdulla Khaleel and Finance Minister Moosa Zameer are actively engaged in foreign nations to secure grant assistance.
In addition to this, President Dr. Mohamed Muizzu, in his recent trips to foreign nations, has held discussions regarding financial assistance and investments. However, these efforts have not been reflected in the numbers.
Notably, state expenses on projects have also decreased by almost two-fold compared to last year.