Finance Minister Exposes $2 Billion in Mismanagement of Government Funds

Minister of Finance, Moosa Zameer, has disclosed serious and illegal discrepancies in the systematic recording of government expenditures over the past few years. During a press conference held at the President's Office, Minister Zameer announced that the Ministry of Finance temporarily halted the publication of the Weekly Fiscal Development report to ensure the accuracy and validity of fiscal accounts.

Zameer highlighted that unpaid bills from 2022 and 2023, totaling USD 162 million, have now been accounted for in the current budget. These discrepancies have been referred to the Auditor General’s Office (AGO) for further review, as additional outstanding bills may yet be uncovered. The minister also revealed that USD 194 million was disbursed this year from cash flow that should have been paid under last year’s budget, a violation of proper budgetary procedure.

Attorney General Ahmed Usham further explained that including these amounts in the current year’s budget is unlawful, and the ministry is working to resolve the issue. Usham confirmed that the matter has been referred to the AGO for investigation, with a report expected within two to three weeks. Following the report, legal action will be pursued against individuals involved in any violations.

Additionally, Usham pointed out that the supplementary budget process has not been followed in the past three years, which has contributed to the current financial mismanagement. He emphasized that future steps will include requesting parliamentary approval for any supplementary budget, as required by law.