Unpaid Taxes Worth MVR 7.7 Billion Could Derail State Finances, Warns Finance Ministry
The Ministry of Finance has warned that unpaid goods and services taxes (GST) and resort land rent arrears, which account...
Supplementary Budget Submitted for Third Time
The Ministry of Finance has resubmitted the state’s supplementary budget to parliament after details provided in the first and second...
Government Compensation Payouts Balloon to Over 270 Percent of Allocated Amount
The government has spent nearly three times the budgeted allocation for compensation payouts, as per records released by the Ministry...
Targeted Subsidies to Replace Indirect Subsidies in July 2024: Finance Ministry
The Ministry of Finance has revealed that the current indirect subsidies will be replaced by targeted subsidies starting July 2024....
Aasandha Costs Over Budget Again, This Year by 120 Percent
Aasandha expenditure will increase to 120 percent over the budgeted amount for 2023, the administration expects. While allocation for this...
Finance Minister Refutes Opposition’s Claims Regarding Secrecy of Foreign Loans
Finance Minister Ibrahim Ameer has firmly denied allegations concerning the lack of transparency around foreign loans, made by Dr Mohamed...
Government Obtains €50M Budget Support Loan from Private Entity
Records from the Ministry of Finance have revealed that the government has secured a €50 million loan (equivalent to MVR...
Nominal GDP Set to Top MVR 100 Billion for First Time in History
Finance Minister Ibrahim Ameer announced on Friday that the country’s nominal gross domestic product (GDP) is expected to exceed MVR...