Subsidy burden rises by 76%; overspending tops MVR 335M

1 hour ago

The state has now spent an excess of over MVR 335 million on subsidies, having exhausted its annual budget allocation for it around mid-way into the year. According to the latest weekly fiscal report released by the Finance Ministry, the state’s spending on subsidies reached MVR 3.23 billion as of August 6. This marks an excess of MVR 335 million compared to