Budget Deficit

Illusory budget surplus masks economic peril as debt crisis looms

Long overdue fiscal reforms remain stalled.

To cut costs, government halts spending on development

The finance ministry has put a halt to spending on development projects in a bid to reign in a ballooning budget deficit. The ministry has also imposed a hiring freeze, restricted overtime pay, and ordered offices to stop domestic and international travel. Offices are to be closed by 2:30pm at the latest.

Maldives economy “relatively buoyant” but fiscal imbalances continue to grow: IMF

State budget for 2015 will be balanced, insists President Yameen

Maldives strategically unprepared for SEZs, argues former Finance Minister Inaz

Government expenditure rose 58 percent in June, reveals MMA

ACC spent MVR3 million in excess of approved budget, reveals audit

World Bank provides US$6.5 million grant for public financial management system

EC awaiting budget from Finance Ministry for parliamentary polls

IMF delegation surprised by resilience of Maldivian economy

Government finances “further deteriorated in first six months of 2013”: MMA Quarterly Economic Bulletin

STO owed MVR 1.45 billion in overdue bills from state institutions, government companies

Taming fiscal deficit “most pressing macroeconomic priority for Maldives”: IMF mission

Economic dependency threatens Maldives’ independence, warns President Waheed

Government “not aware” of request to temporarily halt hiring of senior civil servants

Finance Minister estimates budget deficit will reach MVR6billion

Finance Ministry proposes drastic austerity measures to Parliament

“Administrative issue” behind delayed civil service wage payments: Finance Minister

“We must stop spending beyond our means”: Dr Hassan Saeed

We need to focus on the development of key population centres in order to live within our means: Dr Hassan Saeed