Spending on SOEs hit 1.2bn; dividends see 109mn dip

2 days ago

Government spending on state-owned enterprises has surpassed the annual budget allocation by MVR 865 million, while dividends from these companies declined by close to MVR 109 million, according to the latest weekly fiscal development report released by the Finance Ministry. Persistently high spending by SOEs, as well as mounting debt and unnecessary appointments for political purposes, have become a huge burden