Government Overspends MVR 1.1 Billion on Subsidies and Assistance

The Maldives government has exceeded its budget for subsidies and assistance programs by MVR 1.1 billion, Finance Ministry statistics reveal. As of the 18th of this month, total spending in this category reached MVR 9.8 billion, surpassing the approved budget of MVR 8.6 billion by 13%. The largest expenditure was on subsidies, with MVR 3.4 billion spent against an allocated MVR 1.8 billion. The Aasandha healthcare scheme followed, consuming MVR 2 billion, slightly above its MVR 1.9 billion budget. Aid to local councils reached MVR 2.2 billion, exceeding the MVR 2.1 billion allocation. Medical welfare spending stood at MVR 321.6 million, close to its MVR 327.3 million budget. The Maldives remains one of the world's most subsidy-heavy nations, with international institutions like the World Bank and IMF urging targeted reforms to alleviate fiscal strain.