News
Mohamed Hilmy
26 March 2026, 08:51
The government has begun implementing cost-cutting measures, including suspending non-essential overseas travel, as part of efforts to manage fiscal pressures linked to global economic developments, Finance Minister Moosa Zameer has said.
Speaking at the President’s Office, Zameer noted that while the measures have not been formally announced, significant steps are already underway to curb state expenditure.
Under the changes, only essential travel, particularly diplomatic engagements by the Ministry of Foreign Affairs, will continue, while trips by other government institutions have been deferred.
The minister said the measures are in response to evolving economic conditions and changes in state cash flow influenced by ongoing conflicts in the Middle East.
He also noted that some government payments have been temporarily paused following audit concerns, with companies required to address issues before claims are processed.
The policy signals a tighter fiscal stance as authorities seek to maintain stability while navigating external risks.
No comments yet. Be the first to comment!
News
President Muizzu Hails Sri Lanka as “Neighbour That Feels Like Family”
05 May 2026
News
MMA to Host Maldives Financial Expo, Launch Sector Awards
04 May 2026
News
Bank Fund Winner FEYLI Develops Vocational Lab and Opens Digital Studio at B. Atoll Education Centre
03 May 2026
News
BML Introduces New Measures to Ensure Fair Access to Foreign Currency
02 May 2026