Minister of Finance Ibrahim Ameer has stated a USD2.7 billion state budget will be proposed for 2023. He made the statement during a press conference at the President’s Office.
At the press conference, Minister Ameer said the state budget is being formulated and is expected to reach USD2.7 billion but that it might increase or decrease based on policy-level discussions.
The finance ministry earlier stated the proposed state budget will be submitted to the Parliament of the Maldives on October 31. The ministry stated it is now evaluating the ongoing projects under the public sector investment programmes (PSIP) and the projects proposed for next year. It stated that the ministry has held meetings with the various offices and evaluated their budgets and is working to consolidate the state budget in accordance with the fiscal strategy.
The Parliament approved a USD2.4 billion state budget for 2022.