Government Slashes Over MVR 2 Billion from 2024 Budget Amid Funding Shortfall

The Muizzu government slashed over MVR 2 billion from the MVR 49.8 billion 2024 budget due to difficulties in raising funds. The Finance Ministry announced the cuts, with the largest reduction of MVR 912 million from Construction and Infrastructure, followed by Health (MVR 314 million), Education (MVR 199 million), Housing (MVR 162 million), and Sports (MVR 159 million). Additional cuts were applied to other ministries and institutions. The government is also revising the Asandha health insurance scheme and subsidy systems to control expenditure, with changes taking effect next month.

The Muizzu government slashed over MVR 2 billion from the MVR 49.8 billion 2024 budget due to difficulties in raising funds. The Finance Ministry announced the cuts, with the largest reduction of MVR 912 million from Construction and Infrastructure, followed by Health (MVR 314 million), Education (MVR 199 million), Housing (MVR 162 million), and Sports (MVR 159 million). Additional cuts were applied to other ministries and institutions. The government is also revising the Asandha health insurance scheme and subsidy systems to control expenditure, with changes taking effect next month.

The Muizzu government slashed over MVR 2 billion from the MVR 49.8 billion 2024 budget due to difficulties in raising funds. The Finance Ministry announced the cuts, with the largest reduction of MVR 912 million from Construction and Infrastructure, followed by Health (MVR 314 million), Education (MVR 199 million), Housing (MVR 162 million), and Sports (MVR 159 million). Additional cuts were applied to other ministries and institutions. The government is also revising the Asandha health insurance scheme and subsidy systems to control expenditure, with changes taking effect next month.

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