Small and medium-sized enterprises in the Maldives face severe financial strain as state-owned enterprises halt payments, with businesses running out of cash reserves, cutting salaries and shutting down. The government has announced cost-cutting mainly on infrastructure projects while maintaining over 2,000 political appointees costing more than MVR 86 million monthly, and is considering raising GST to 10 percent.
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has left the number of political appointees at a record high of over 2,000, costing more than MVR 86 million monthly in salaries
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Earlier reports gave over 2,000 16 Jul, 12:14 Maldives Republic
has left the number of political appointees at a record high of over 2,000, costing more than MVR 86 million monthly in salaries
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Earlier reports gave MVR 86 million per month 16 Jul, 12:14 Maldives RepublicMVR 86 million 15 Jul, 17:47 Maldives Republic
the government is now considering increasing the Goods and Services Tax (GST) to 10 percent, alongside other tax and fee hikes
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In response to the economic turmoil, the government has announced cost-cutting measures. However, these cuts have primarily targeted Public Sector Investment Programme (PSIP) projects
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