Government’s economic policies are “failing,” says MDP
The MDP has expressed concern over a “ballooning budget deficit,” and said the Maldives will not meet targeted 1.4million arrivals, or raise expected revenue from SEZs.
02 Sep 2015, 9:00 AM
If current trends in government expenditure continue, the budget deficit may increase four-folds, the main opposition Maldivian Democratic Party (MDP) has said.
The estimated deficit for 2015 is MVR1.3billion (US$84million), but the figure may increase to MVR6billion (387million), members of the MDP’s economic affairs committee said today.
Ilyas Labeeb, the committee chair, said statistics published by the state indicate that the government had earned MVR7billion from January to May, but spent MVR9.2billion in the same period.
“This MVR2.2billion excess in the first five months already beats the total estimated deficit MVR1.3billion,” Ilyas said.
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