Continued Delay in Fiscal Reports Raises Concern

The Ministry of Finance has yet to release its Weekly Fiscal Development Report, despite a notice on its website indicating that the next update would be published in the fourth week of July 2024. As of August 3rd, there have been no further updates, extending the delay to over six weeks since the last publication on June 20th. This persistent delay is the longest since January, when the report was two weeks late.

The Ministry’s notice cited ongoing reconciliation works as the reason for the postponement. However, the prolonged absence of these crucial reports has raised alarm among analysts and stakeholders who rely on this data to gauge the country’s economic health and make informed decisions.

- Advertisement -

As of the latest available data, revenue for the year up to June 20th had increased by approximately one billion Rufiyaa compared to the same period last year. Specifically, the government received MVR 15.4 billion by June 20, 2023, and MVR 16.4 billion by June 20, 2024. These figures, released prior to the June payroll, also indicated that recurrent expenditures for the period were lower than those of the previous year.

The absence of these crucial reports has further fuelled concerns about the transparency and reliability of economic data in the Maldives. Analysts and stakeholders are increasingly uneasy about the lack of timely information, which is essential for economic planning and stability.

- Advertisement -