Expenditure

Finance minister submits record MVR27bn budget for 2016

While MVR21.5 billion was expected in revenue this year, Finance Minister Abdullla Jihad said the government will only have earned MVR17.7 billion by the end of the year. The forecast deficit was MVR1.3 billion, but the figure is likely to reach MVR3.6 billion or 6.9 percent of GDP.

Government revenue declines in May

Revenue collection declined in May due to a decrease in tourist arrivals and decline in revenue from Business Profit Tax. The government expenses rose due to spending on recurrent expenses.

Government expenditure rose 58 percent in June, reveals MMA

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

Ambassador to EU illegally paid US$17,000 as allowance in 2011, reveals audit report

Tourist arrivals increase six percent in March

Budget of MVR16.4 billion for 2014 submitted to parliament

Finance Ministry appeals for cooperation with cost-cutting measures

MP allowances unjustified in current economy: GIP