Minister of Finance Moosa Zameer has raised concerns over insufficient financial allocations for development projects, warning that this could lead to delays and impede long-term progress. The minister made these remarks during the ongoing parliamentary debate on the state budget for 2025.
Addressing members of parliament, Minister Zameer cautioned against spreading the budget too thinly across multiple projects without providing sufficient funding. He emphasised that such an approach could result in stagnation and minimal advancements due to cash flow constraints. He highlighted that many projects, previously contracted to the Maldives Transport and Contracting Company (MTCC) and valued at USD 1.2 billion, are currently stalled because the necessary financing has not been secured. He assured that the new budget would focus on ensuring adequate funding to advance these projects and avoid further delays.
In a bid to enhance financial services across the Maldives, Minister Zameer announced plans to install ATMs on all inhabited islands by the end of the year. This initiative is part of the government’s broader strategy to improve accessibility and convenience for citizens, reflecting its commitment to expanding financial inclusion.
The minister also touched on the government’s efforts to streamline the operations of state-owned enterprises. He suggested that merging companies with overlapping services could lead to improved performance and efficiency, ultimately benefiting the public sector.
On healthcare, Minister Zameer commended the recent reforms to the national health insurance scheme, Aasandha. These changes are expected to curb unnecessary expenditures, with projected savings of up to USD 32 million. The minister expressed optimism that these reforms would align with the government’s fiscal goals and help ease budgetary pressures.
Minister Zameer concluded by reaffirming the government’s commitment to addressing fiscal challenges while ensuring that resources are used effectively to drive sustainable national development.
