The Finance Ministry has announced the sale of Treasury bills worth MVR 645 million to help balance state expenditure.
This round of sales covers T-bills issued across four maturities. They include MVR 265 million in T-bills sold to mature in 28 days at an interest rate of 3.5 percent; MVR 50 million maturing in 98 days at 3.87 percent; MVR 247 million maturing in 182 days at 4.23 percent; and MVR 83.4 million in T-bills sold to mature in one year at an interest rate of 4.6 percent.
According to Finance Ministry statistics, the total volume of T-bills the government must repay has now risen to MVR 41.6 billion. Meanwhile, as of the 27th of last month, state revenue stood at MVR 27.9 billion while state spending had reached MVR 29.96 billion. A large share of state spending is accounted for by salaries and allowances, as well as operational costs.
Leave a reaction
