Finance Ministry’s Delayed Reports Show Increased Recurrent Expenditure for 2024
The Ministry of Finance has released previously held back Weekly Fiscal Development reports since publications were halted on 20 June….
Parliament Passes MVR 5.1 Billion Supplementary Budget With Zero Changes
The MVR 5.1 billion Supplementary Budget, proposed by the Mohamed Muizzu administration, has passed Parliament without any amendments. While the…
Maldives Needs Urgent Action to Avoid Severe Economic Woes: World Bank
The Maldives needs to take urgent action to stave off high debt distress risk and other financial challenges which have…
Government Spending on Projects Down, Salaries Up
Spending on development projects from January to May of 2024 was lower compared to the same period last year, however…
Minister Muththalib’s Comments Cast Doubt on Finance Ministry’s Fiscal Updates
Statements by Minister of Construction and Infrastructure Abdulla Muththalib has brought into question the state’s expenditure on development projects, as…
President Muizzu Establishes Development Bank of Maldives Limited
President Mohamed Muizzu has established the Development Bank of Maldives Limited (DBM). According to the President’s Office, the President established…
State Expenditure Rises Overall as Capital Expenditure Drops by MVR 1.5 Billion
State expenditure so far this year has increased compared to last year, however, capital expenditure declined by MVR 1.5 billion,…
Development Projects Not Cancelled; Will Move Forward After Reassessment: Finance Minister
Minister of Finance Mohamed Shafeeq said on Sunday that the administration has suspended spending on structural development projects to prioritise…
State Expenditure Rises to MVR 7 Billion in February
The state had spent a total of MVR 7 billion this year as of end of February, with revenue exceeding…
PSIP Spending Down 83% in January: Finance Ministry
Public Sector Investment Programme (PSIP) spending fell 83 percent in January this year when compared to the same period last…