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Targeted Subsidies to Replace Indirect Subsidies in July 2024: Finance Ministry
The Ministry of Finance announced that indirect subsidies on staples, fuel, electricity and sewerage will be replaced by targeted subsidies in the form of monthly payments or direct transfers starting July 2024, with a percentage of the previous year's Tourism Goods and Services Tax revenue budgeted for subsidy payments. The ministry estimated the change would save MVR 599 million in 2024, MVR 1.1 billion in 2025 and MVR 2.5 billion in 2025.
Sources1carried itMR1 of 19 news outlets we monitor
Figures3as written, with their sentences
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
How the reporting differs
one source so far
Maldives RepublicNews outlet
Targeted Subsidies to Replace Indirect Subsidies in July 2024: Finance Ministry
MVR 599 million Estimated savings from the change in July
Nothing to compare yet. If another monitored source reports it, its headline appears beside this one.
Figures in these reports
as written, with the sentence they come from
MVR 599 millionEstimated savings from the change in JulyMaldives RepublicThe change in July will save MVR 599 million in 2024, MVR 1.1 billion in 2025 and MVR 2.5 billion in 2025, the ministry estimated.
Word for word from the report in Maldives Republic. Open the report
MVR 1.1 billionEstimated savings from the change in JulyMaldives RepublicThe change in July will save MVR 599 million in 2024, MVR 1.1 billion in 2025 and MVR 2.5 billion in 2025, the ministry estimated.
Word for word from the report in Maldives Republic. Open the report
MVR 2.5 billionEstimated savings from the change in JulyMaldives RepublicThe change in July will save MVR 599 million in 2024, MVR 1.1 billion in 2025 and MVR 2.5 billion in 2025, the ministry estimated.
Word for word from the report in Maldives Republic. Open the report
Other events named
no clear day, as worded
Indirect subsidies are to be replaced by targeted subsidies.July 2024Maldives RepublicThe Ministry of Finance has revealed that the current indirect subsidies will be replaced by targeted subsidies starting July 2024.
Word for word from the report in Maldives Republic. Open the report
The Abdulla Yameen Abdul Gayoom administration implemented targeted subsidies but reverted to indirect subsidies a year later.in 2016Maldives RepublicThe Abdulla Yameen Abdul Gayoom administration had also implemented targeted subsidies in 2016 but reverted to indirect subsidies a year later.
Word for word from the report in Maldives Republic. Open the report
