COVID-19 could set the govt. back by MVR 1.6 billion

Finance Minister Ibrahim Ameer has estimated that around MVR 1.6 billion would have to be spent by the government to overcome the situation with COVID-19 in the Maldives.

The Minister was speaking in a press conference today when he made the projections. Admitting that the economy was suffering badly due to the virus, the Minister announced that MVR 223 million was released under the Public Health Act to combat the virus.

The situation with the community spread in the country means that the virus could potentially cost the government MVR 1.6 billion.

A state of public health emergency was announced in the Maldives following confirmed cases of the Covid-19. Under the law, a special budget is to be prepared for the expenditure in such a situation.

In a press conference today, Minister Ameer stated that the costs for the government is stacking up after a community spread of the virus was identified. The government already has MVR 223 allocated for the situation.

“Due to the community spread, we can estimate that the costs of the government will rise above MVR 1.6 billion. As the situation drags on, so will the costs.” Said Minister Ameer.

The majority of the funds are to be spent on isolation and quarantine of suspected cases and the facilities where they will be kept in addition to sourcing medical equipment. The estimated cost of sourcing the equipment is around MVR 660.3 million. For isolation and quarantine purposes, it is expected to set the government back by MVR 594.73 million.