Overspending on subsidies tops MVR 1.37bn

1 day ago

The state has now spent an excess of over MVR 1.37 billion 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 4.26 billion as of October 8. This marks an excess of MVR 1.37 billion or 47.57