Governor underscores need for enhanced system to identify eligible subsidy recipients

Governor of Maldives Monetary Authority (MMA) Ahmed Munawwar has underscored the critical need for an improved system to better identify individuals most in need of subsidies. He made the remarks while speaking at the Parliament’s Budget Committee. Addressing the committee members, Governor Munawwar stated that the subsidy reforms introduced were beneficial, but noted that it requires a lot of careful planning. He highlighted the necessity of establishing a comprehensive database of all households to accurately identify vulnerable populations that require government assistance. In addition, Munawwar raised concerns about the rising cost of student loans, which have significantly increased from USD 16 million to USD 52 million, putting pressure on the nation’s reserves. He called for measures to address this issue. Furthermore, he stressed the importance of boosting tourist arrivals, particularly with the upcoming opening of the new passenger terminal at Velana International Airport (VIA). He stated that the national budget must be able to accommodate the anticipated increase in tourism.