Week in review: December 8 – 14
14 Dec 2013, 5:27 PM
Daniel Bosley
This week saw the repeatedly delayed budget introduced to the People’s Majlis. Coming in at MVR17.5billion rufiya, the budget – purportedly revised to incorporate President Yameen’s austerity measures – eclipses all previous spending programmes.
A report from the World Bank made clear the tough task the new government faces in nursing the economy towards good health. The report stated that the Maldives continues to spend “beyond its means”.
Noted areas of excess include a high civil service wage bill, with the World Bank suggesting that the government’s short term financing measures risked further damaging the economy.
The exploitation of the country’s persistent shortage of dollars by criminal elements was exposed this week as police reported the activity of thieves masquerading as legitimate exchangers of currency.
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