60 percent of Aasandha budget spent in 3 months

Sixty percent of the Aasandha budget has been spent in the first three months of the current fiscal year, data from the Ministry of Finance has revealed.

According to the ministry, MVR 600 million has already been spent on Aasandha. A total of MVR 1 billion was set aside for the universal healthcare plan in the state budget this year.

The amount spent in the first quarter of this year has nearly doubled compared to the corresponding period last year. In 2022, Aasandha's expenses totaled MVR 345 million during the first three months. A total budget of MVR 730 million was allocated for Aasandha last year; however, the government spent MVR 1.6 billion by the end of the year.

For the last decade, international financial institutions have been warning the Maldivian government to cut subsidies. In 2017, initiatives were taken to cut overall government spending and subsidies, including food subsidies for staples. However, no significant measures were taken in the years that followed to minimize government spending.

According to the Ministry of Finance, the Maldives has spent MVR 11 billion of the state budget thus far this year, which is MVR 1.2 billion more than what was spent over the same time period the previous year.