Budget 2023 | Atoll Times

Budget 2023

Govt cuts spending, saves MVR 585 million

In addition, MVR 87 million has been deposited in the Sovereign Development Fund (SDF).

11 February 2024

Parliament passes MVR 6.5b supplementary budget

In Monday's sitting, 57 MPs voted in favour of approving the budget with the committee recommendation. Ten MPs voted against it.

20 November 2023

MMA sounds alarm on borrowings in supplementary budget

"The Authority recommends that no supplementary budget be presented unless there is a special economic situation", MMA recommendation.

16 November 2023

Committee approves supplementary budget with MVR 6m to media

16 November 2023

Top Stories

Top Stories

2023 budget is a credible roadmap, finance minister says

31 October 2022

Government proposes MVR 42.6 billion budget for 2023

The budget deficit for the next fiscal year is expected to be MVR 8.4 billion. This is a deficit of 8.1% in terms of productivity or GDP.

31 October 2022

MMA concerned as budget lacks proposal to repay printed money

The MMA has pointed out that this is leading to a growing financial crisis.

11 November 2022

Maldives to sell first eco bonds to finance 8.4 billion deficit

The government aims to fund environment-related projects by selling green or blue bonds worth MVR 771 million in the foreign market over the next three years.

31 October 2022

MVR 430 million allocated for 2 new subsidies

Financial institutions have always advised the Maldives to manage subsidies better.

1 November 2022

MMA relaxes stance on T-GST hike

According to the central bank, T-GST hike will boost state revenue from foreign exchange

13 November 2022

Offices asked to take austerity measures

The circular will come into effect from Wednesday.

1 February 2023

Govt repays MVR 462m out of MVR 3b overdrawn funds

The government earned a record revenue in January this year after tourism recovered post-Covid, MVR 3.4 billion.

11 February 2023