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State revenue exceeds expenditure by USD 38 million in January

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The Ministry of Finance has reported that state revenue surpassed state expenditure by USD38 million in January 2024.

The latest Weekly Fiscal Development Report released by the finance ministry show that the Maldives received a total of USD227 million in revenues and grants in January. Meanwhile, total expenditure amounted to USD188 million during the same period. Despite the surplus, this year’s revenue intake was lower compared to the period last year, when the country received USD270 million.

The report shows that USD208 million was generated from tax revenue, USD21 million from non-tax revenues, and an additional USD162,000 in grants. Tax revenue primarily comprised import duties, Business and Property Tax (BPT), and Goods and Services Tax (GST).

Meanwhile, expenditure for January this year was USD188 million, significantly lower than the USD318 million recorded in the previous year. The reduction reflects a substantial decrease in government spending. Of the total expenditure, USD162 million was allocated for recurrent expenditure, covering USD71 million for salaries and wages, and USD91 million for administrative and operational expenses. In addition, USD29 million was designated for capital expenditure, primarily focusing on structural development projects.

Source(s): PsmNews

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Minister confirms redeployment of all Indian militants

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Minister of Defence Mohamed Ghassan Maumoon has disclosed that the 76 Indian militants stationed in the Maldives have been successfully redeployed. The redeployment of foreign troops from the nation is a commitment of President Dr. Mohamed Muizzu.

The withdrawal of the Indian military troops stationed by May 10 in the Maldives, as per the pledge of President Dr. Muizzu, were officially announced today at a press conference held at the President’s Office. The troops were redeployed in batches, with the first batch redeployed in March. This was followed by the withdrawal of the second batch of militants in April and the last batch on May 10.

Details on the withdrawal of the foreign troops are as follows: In March, a total of 26 soldiers who were stationed in Gan, Addu City were redeployed, with 12 militants redeployed on March 7 and 14 militants on March 9. Meanwhile, 25 military personnel in Hanimaadhoo, Haa Dhaalu Atoll withdrew, with 13 soldiers redeployed on April 7 and 12 on May 9. The troops stationed in Kadhdhoo, Laamu Atoll were redeployed with 12 personnel withdrawing the platforms on May 7 and 13 by May 9.

Speaking at the press conference, Minister Ghassan revealed that the foreign soldiers working at Senahiya Military Hospital are doctors, and there were no plans to redeploy them. The minister assured that these soldiers were not partaking in any military roles.

Source(s): PsmNews

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Foreign Minister prioritises talks with India to expedite projects

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Minister of Foreign Affairs Moosa Zameer has affirmed that significant strides have been made in expediting projects initiated in the Maldives with financial assistance from the Indian Government.

Following his official visit to India at the invitation of Minister of External Affairs S. Jaishankar, Minister Zameer said that a spectrum of initiatives across the nation has been kickstarted through loans and grants from the Government of India during the previous administration. He emphasised the current government’s commitment to prioritising the resumption and completion of these projects. He also underscored his dedication to this endeavor during his recent visit to India.

Additionally, Minister Zameer disclosed that both ministers engaged in bilateral discussions on May 9 to address pivotal matters aimed at expediting the projects. He underscored the discussions with Minister S. Jaishankar, focusing on the operational dynamics of the committees entrusted with executing these projects.

During the official discussions between the two nations, Minister S. Jaishankar reiterated the significance of India’s ongoing projects in the Maldives.

Source(s): PsmNew

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Redeployment of Indian troops, attributed to critical thinking of President

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Minister of Defence Mohamed Ghassan Maumoon has revealed that all the Indian military troops, previously stationed in Maldivian platforms were effectively redeployed due to the strategic decision-making skills and critical thinking of President Dr. Mohamed Muizzu. The remarks were made by the minister during a press conference held to officially announce the redeployment of all Indian militants.

Addressing the media, Minister Ghassan disclosed that a total of 76 military personnel were stationed across three platforms in the Maldives. The three platforms include Hanimaadhoo in Haa Dhaalu Atoll, Gan in Addu City and Kadhdhoo in Laamu Atoll. The minister further confirmed the successful withdrawal of all foreign troops in the country by the deadline set by the government, which was May 10.

Minister Ghassan stated that the successful redeployment of troops through series of discussions in a small period of time, were attributed to the critical and strategic thinking of President Dr. Muizzu.

Source(s): PsmNews

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