Fiscal report suspended for past three weeks

Aug 30, 2025, 1:33 PM
Finance Minister Moosa Zameer. -- Photo: People's Majlis

Finance Minister Moosa Zameer. -- Photo: People's Majlis

The Finance Ministry has again suspended its weekly financial report for the past three weeks.

The last fiscal report was released on August 14 with the details of expenditure and income up to August 7.

This is the second time in the past two months that the ministry suspended disclosing its financial reports.

Last month, the reports were suspended for two weeks and were publicized after an article on Adhadhu.

This is not the first time the government has stopped disclosing its weekly financial figures.

Last year, the fiscal report was suspended from late June until August 29. The government made many excuses to not disclose the figures.

The figures were disclosed after opposition parties expressed concern and began complaining to international agencies.

The latest report shows that more than half of the projected revenue of MVR 39.7 billion was earned by the 25th week of the year.

Tax and non-tax revenue was higher than the previous year. However, the amount of free aid received was lower.

This year's budget estimates MVR 2.5 billion in free aid but MVR 162 million has been received so far. This is only six percent of the estimated amount.

Comments

Read More

Latest News

Economic growth could be below one percent

The Maldives' economic growth forecast has been slashed to between 0.6% and 1.8% due to Middle East conflicts disrupting tourism. Finance Minister Hassan Zareer noted that travel route closures and rising fuel costs have caused a sharp decline in arrivals. The government now expects 2.17 million visitors, a 3.5% drop from last year.

Tourist arrivals expected to fall short of previous record

Maldives Finance Minister Hassan Zareer announced that tourist arrivals this year are expected to fall short of previous records and targets. The government revised its year-end estimate to 2.17 million visitors, citing geopolitical tensions as a factor. This decline marks the end of a five-year growth trend for the nation's tourism sector.

Maldivian flight with pilgrims abruptly postponed

A Maldivian flight carrying 250 Umrah pilgrims was postponed due to escalating regional tensions and airspace restrictions near Jeddah. Island Aviation delayed the trip to prioritize passenger safety amid deteriorating conditions in the Middle East. The airline and Hajj Corporation are working to assist affected travelers.

Villa College opens January 2027 intake with over 100 programs

Villa College has opened applications for its January 2027 intake, offering over 100 programs from certificates to master’s degrees. Students can apply until December 26, 2026, for courses in fields like IT, law, and nursing. The college provides international-standard education through partnerships with top UK and Malaysian universities.

Efforts underway to relocate Male' Port to Thilafushi

Maldives Ports Limited has begun relocating Malé’s commercial port operations to Thilafushi, starting with sea-based container clearance. The move aims to reduce congestion at the Malé and Hulhumalé terminals. While China Harbour Engineering Company handles design, local firm MTCC is constructing the new port's quay wall.

CBM re-auctions Malé land plots following loan repayment defaults

The Commercial Bank of Maldives is re-auctioning two land plots in Malé after the owner defaulted on loan repayments. The properties, Maafannu Doragali 2 and 3, have a combined reserve price of MVR 3.8 million. Interested bidders must submit their offers by November 1 with a mandatory bid security of MVR 25,000.

Turkish firm ordered to pay MVR 25 million in unpaid taxes

The Maldives High Court ordered Turkish firm Turmaks to pay MVR 25 million in unpaid GST for materials used to build Tree Top Hospital. The court upheld MIRA's assessment, rejecting the company's claim that a verbal agreement shifted tax liability. The ruling emphasizes that the burden of proof for tax exemptions lies with the taxpayer.

Newsletter

Get the latest news delivered straight to your inbox