President Muizzu Announces Salary Cuts for Political Appointees and SOE Staff

President Mohamed Muizzu announced plans to reduce salaries for political appointees and employees of state-owned enterprises (SOEs) as part of economic reforms. The measures include a 10% salary reduction over two years, with CEO salaries capped at MVR 90,000 per month. Muizzu will also forego 50% of his own salary. Employees earning less than MVR 12,000 monthly are exempt. The government will request a similar cut for MPs and judicial officials, requiring parliamentary approval. Financial institutions have expressed concerns over increased spending despite record revenue. The 2025 budget is expected to outline further expenditure reduction measures.

President Mohamed Muizzu announced plans to reduce salaries for political appointees and employees of state-owned enterprises (SOEs) as part of economic reforms. The measures include a 10% salary reduction over two years, with CEO salaries capped at MVR 90,000 per month. Muizzu will also forego 50% of his own salary. Employees earning less than MVR 12,000 monthly are exempt. The government will request a similar cut for MPs and judicial officials, requiring parliamentary approval. Financial institutions have expressed concerns over increased spending despite record revenue. The 2025 budget is expected to outline further expenditure reduction measures.

President Mohamed Muizzu announced plans to reduce salaries for political appointees and employees of state-owned enterprises (SOEs) as part of economic reforms. The measures include a 10% salary reduction over two years, with CEO salaries capped at MVR 90,000 per month. Muizzu will also forego 50% of his own salary. Employees earning less than MVR 12,000 monthly are exempt. The government will request a similar cut for MPs and judicial officials, requiring parliamentary approval. Financial institutions have expressed concerns over increased spending despite record revenue. The 2025 budget is expected to outline further expenditure reduction measures.

This story involves 1 source and may affect public understanding of economic reform / salary cuts.