State subsidy investment has risen to over MVR 900 million.
The Finance Ministry’s Weekly Fiscal Development Report indicates that MVR 912.1 million from the allocated MRV 1262.7 million has been used as a subsidy from the budget.
Under the current government system, a substantial expenditure is incurred on subsidies. The government provides subsidies to state-owned companies to subsidize publicly provided goods, including staple food, electricity, fuel, and waste management. MIFCO also provides a large amount to provide funding for fishermen.
The amount spent on subsidies has risen with the current administration implementing new policies, including incentives for higher education and the school breakfast program.
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