MMA governor calls for courageous cuts at third Maldives Finance Forum
18 May 2014, 1:10 PM
Daniel Bosley
The third Maldives Finance Forum was opened with the Governor of the Maldives Monetary Authority (MMA) Dr Azeema Adam calling upon stakeholders to take more courage in reducing government expenditure.
“There needs to be a change particularly with regards to disorganised subsidies, and revenue needs to be increased,” Dr Azeema was reported to have told attendees.
“But that is not something the government alone could do. It should be done together by many.”
Azeema’s comments echoed the findings of the MMA’s 2013 macroeconomic report, which warned that further “slippages” in revenue or spending would undermine medium-term debt sustainability,with adverse effects on exchange rate and prices.
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