The Minister of Finance, Moosa Zameer, has announced that a comprehensive fiscal austerity plan is being developed to curb state expenditure, which is scheduled for submission to the President within the coming week. Under this strategic framework, the government aims to restrain recurrent expenses, temporarily halt new recruitment, and reduce official travel by prioritizing virtual meetings and online consultations.
The Minister emphasized the necessity of these measures in light of the current fiscal challenges, noting that the budget deficit is projected to reach MVR 8 billion. Despite these cost-cutting initiatives, the government has provided assurances that there will be no disruptions to essential public services, particularly in the sectors of healthcare, housing, and basic welfare provision.
