Govt mulls cheaper oil import instead of subsidy rationalisation

If the cost of fuel subsidies is not reduced, the cost of fuel subsidy will be close to MVR 2 billion this year as well.

27 April 2023

Budget rendered 'useless'; MVR 73m projects outside budget

The report notes that various projects are included in the budget as ghost projects.

13 October 2023

Targeted subsidies from July 2024; inflation to hike to 3.9%

MVR 2.2 billion has been budgeted for the change in subsidy policy.

31 October 2023

Targeted subsidy policy has new govt's backing: Finance ministry

The government in the 2024 budget has proposed to change the existing blanket subsidy policy to provide targeted subsidies only to those in need from July 2024.

1 November 2023

Maldives faces slower growth, World Bank urges fiscal reforms

The Maldives currently has a high debt burden, exceeding USD 8 billion, which is equivalent to 122.9% of its GDP.

9 May 2024

Budget proposes to consider income in council payouts

"Our intention is to encourage [councils] to generate revenue first. Don't just rely on block grants," he said.

1 November 2023

Maldives' state fisheries firm revokes price control on fish

MIFCO said it was not financially sustainable to buy fish from fishermen without taking the market price into account.

1 July 2024