Author: Mohamed Reehaan
The cumulative total of state expenditure has reached MVR20,219.4 million (MVR20.2 billion) as of 16th September, reports Ministry of Finance. Moreover, the state body confirms that the cumulative total of state revenues inclusive of grants have reached MVR12,535.2 million (MVR12.5 billion) by the review period. The expenditure composition confirms 76% of the total spending were concentrated towards recurrent expenses and the remaining 24% on capital expenses. On the other hand, revenue composition reveals that 73% of the total came from tax sources and the remaining 27% from non-tax sources. Furthermore, the overall balance for the review period is a deficit…
Housing Development Corporation (HDC) has inaugurated their Community Urban Farming Project at Hulhumale’. Moreover, the project was inaugurated by HDC on Tuesday, 21st September after handing the land plots to selected candidates of the project. The project was officiated by Minister of Fisheries, Marine Resources and Agriculture Dr. Hussain Rasheed. The event was also graced by Japanese Ambassador in the Maldives and the UNDP’s Resident Representative to the island nation, who took part in the inauguration as well. Executed as part of the sustainable economic employment for the development of MSMC, the project covers a total of 19,877.26 square-feet, distributed…
Ministry of Finance confirms that the government of Maldives has spent MVR3,882.1 million (MVR3.88 billion) on Covid-19 related efforts so far. Moreover, as per the state body the total health and social spending as of 16th September stood at MVR2,108.7 million (MVR2.1 billion), which observed just a 0.09% increase from the week before. During the review period, 34.1% of the total health and social spending has been committed-spending. In terms of week-on-week spending, Hulhumale’ Hospital registered the highest spending compared to its peers. On the other hand, the total economic response spending, as in total disbursements made to Economic Response…
The Minimum Wage Board confirms on announcing an official minimum wage for employees, during their next meeting scheduled for coming Wednesday, 22nd September. Moreover, the Secretary General of the board, Mr. Mauroof Zahir had commented stating they will decide on the minimum wage and inform their decision to Ministry of Economic Development. According to Maldives Employment Act, the minimum wage should be decided by the Minister of Economic Development based on the official input from the Minimum Wage Board. Furthermore, the incumbent administration had earlier announced an expected minimum wage range between MVR6,700 to MVR8,900. The minimum wage will be…
The national carrier of the island nation, Maldivian Airlines is geared up to commence direct flights between Maafaru International Airport and India’s capital New Delhi. Moreover, the national Maldives carrier is prepared to commence the direct flight operations on 21st October 2021, with three weekly flights. According to the airline, the departure from Maafaru International Airport is scheduled on Tuesdays, Thursdays and Saturdays every week. Furthermore, this makes it the first time since Covid-19 pandemic that the national carrier is commencing its international flight operations. Meanwhile, the airline reports a fare price of USD285 for one-way trips and USD312 for…
Ministry of Finance has revealed on commencing another round of Treasury Bill (T-Bill) sale in order to adjust state expenses. Moreover, the T-Bill sale will aimed towards internal markets and will proceed on a weekly basis. According to the state body, the state will be selling T-Bills worth MVR135 million with a 28-day repayment plan along with MVR170 million T-Bills with a repayment of 98 days. In addition to this, state will sell MVR55 million worth T-Bills with a repayment period of 182 days and MVR368 million worth T-Bills with a repayment period of 364 days. Furthermore, the interest rates…
Monday, 20th September – Maldives Transport and Contracting Company (MTCC) reports on the latest update of the ferry terminal development project at Haa Dhaal atoll Hanimaadhoo. Moreover, as per the contractor, they have commenced the foundation footing works of the terminal building which had commenced on 19th September, Sunday. The ferry terminal project developed at Hanimaadhoo is part of the phase-1 of the “Integrated National Public Ferry Network Project” with the aim of connecting the residential islands and atolls of the country via a high-speed ferry network. Furthermore, the project will proceed through a total of three phases of which…
The Spanish flag carrier airline, Iberia reports on continuing their flight operations to Maldives during tourism peak season. Moreover, the airline added Maldives into its winter season routes following the success of chartered flights to the island nation during the summer season earlier in 2021. Furthermore, Iberia operated flights to the tourism-heavy country in July as well as through August of this year, while the airline will operate two weekly flights from Madrid to Velana International Airport from December 2021 to February 2022.
According to the latest updates from Ministry of Tourism the tourist arrival to Maldives so far in September observed an increment of 1,277.8% when compared with the same period in 2020. Moreover, the ministry reports that the total tourist arrival to Maldives as of 15th September 2021 reached 817,387. Meanwhile the total tourist arrival to the island nation from 01st to 15th September reached 61,421 observing a 7.6% growth in comparison with the same period in 2019 where the arrival count stood at 57,079. In 2020, the total tourist arrival during this period stood at just 4,458. Furthermore, the average…
One of the largest private carriers hailing from Bangladesh, the US-Bangla has confirmed on their decision to commence flights to the Maldives. Moreover, according to the airline direct flights between Dhaka and Velana International Airport (VIA) will commence sometime in the coming November 2021, with four weekly trips set. Furthermore, the airline is set to operate their Boeing 737-800, 189-seater commercial aircraft as per US-Bangla. Commenced in 2014, the US-Bangla airline is widely regarded and recognized as one of the best private airlines originating from the South Asian country while it also boasts the largest fleet for a Bangladeshi origin…