Over MVR 7K Million Allocated to Health Sector for 2024

A substantial amount of MVR 7,459 million has been allocated for the health sector in the Maldives for the fiscal year 2024, representing a notable increase compared to allocations in previous years.

Health Budget Surges to Record MVR 7,459 million in 2024

Over the past five years, there has been a noticeable progression in budgetary allocations for the health sector in the Maldives. In 2020, the Ministry of Finance earmarked MVR 4,144 million for healthcare, which represented the starting point of this trend. 

The following year, in 2021, this allocation remained steady at MVR 4,055 million, indicating a sustained commitment to healthcare funding. Subsequently, in 2022, there was a notable increase in the budget, with MVR 4,648 million being allocated to the health sector, reflecting a growing emphasis on bolstering healthcare services and infrastructure. 

This upward trajectory continued into 2023, as the budget allocation for healthcare further rose to MVR 5,043 million, highlighting the government’s ongoing efforts to enhance public health provisions. 

The budget for 2024 saw a substantial surge in funding, with the Ministry of Finance allocating MVR 7,459 million for the health sector, marking a significant increase compared to previous years.

Inside Health Budget: Revenue and Expenditure Breakdown

A breakdown of the revenue and expenditure for the Ministry of Health in 2024 reveals a total revenue and grants of MVR 20,484,927, with a corresponding outflow of MVR 713,210,890.

Revenue and Expenditure Projections for Health Ministry

Revenue projections for 2024 indicate varying levels of expected income across different entities under the Ministry of Health. The Ministry of Health itself anticipates revenue totaling MVR 20,484,927, reflecting its central role in healthcare administration and services. 

The Health Protection Agency forecasts revenue of MVR 6,655,807, indicating its contribution to public health initiatives and regulatory activities. Dhamanaveshi, a key healthcare financing mechanism, expects revenue of MVR 130,785, while the Maldives Food & Drug Authority projects income amounting to MVR 5,782,066. K. Atoll Health Services foresees revenue of MVR 1,279,448, contributing to healthcare delivery in its respective region. 

Conversely, expenditure forecasts outline the anticipated outflow of funds by these offices to support their respective mandates and operations. The Ministry of Health leads in expenditure, with a substantial allocation of MVR 713,210,890, indicative of its broad responsibilities in healthcare provision and oversight. 

The Health Protection Agency expects to allocate MVR 37,362,905 towards its regulatory and public health functions. Dhamanaveshi, tasked with healthcare financing and insurance, plans to expand MVR 10,638,537 in the fiscal year. Similarly, the Maldives Food & Drug Authority anticipates expenditure of MVR 31,181,764 to regulate and monitor food and pharmaceutical products. 

K. Atoll Health Services forecasts an expenditure of MVR 67,052,764 to support healthcare services in its jurisdiction. The Maldives Blood Service expects to allocate MVR 49,791,288 towards its blood collection and distribution activities.

These revenue and expenditure projections provide valuable insights into the financial operations and priorities of key healthcare entities under the Ministry of Health, informing stakeholders and the public about the allocation and utilization of resources in the healthcare sector.