Fiscal reports haven’t been publicized in a month

The government has not published its weekly fiscal reports – an account of the government’s expenses and revenue - in a month.

Finance Ministry publishes fiscal reports on a weekly basis. However, the ministry’s website shows the last fiscal report was released on March 13. It is now exactly one month since the last report was released.

The Finance Ministry was not immediately available for official comment regarding this.

However, a senior ministry official who spoke to Sun on condition of anonymity attributed the failure to publish weekly reports on the long government holiday – stretching from the last 10 days of Ramadan to the end of Eid al-Fitr and the overlapping weekend.

President Dr. Mohamed Muizzu’s administration had been hit with criticism over its failure to publish fiscal reports in the early days of the administration. At the time, the incumbent administration blamed it on irregular accounting of expenses by the previous administration.

The Maldives has been receiving urgent appeals by international financial agencies – including the International Monetary Fund (IMF) and the World Bank - to cut down costs and expedite the implementation of fiscal reforms.

Back in March, the government attempted to raise around MVR 15 billion by selling a plot of land to the Maldives Monetary Authority (MMA). The move was heavily criticized by the opposition, who said it would worsen the country’s economic crisis.

The government has repeatedly expressed confidence in being able to cut down costs and overcome the crisis.