SOEs drain MVR 1.7bn from state budget

3 hours ago

The state budget has spent MVR 1.7 billion on government-owned companies up to November 20, according to official figures from the Ministry of Finance.   This is MVR 175 million more than last year and MVR 1.3 billion higher than the MVR 378 million allocated in this year’s budget. The figures highlight the government’s heavy spending on state-owned enterprises (SOEs), many of