Deputy Minister of Finance Ahmed Saaid Musthafa has revealed that the state budget 2025, will prioritise the completion of the ongoing Public Sector Investment Programme (PSIP) Projects. He made the remarks while speaking at a programme aired on PSM News.
The government has proposed a state budget worth USD 3.7 billion to the parliament. An allocation of USD 804 million is designated for the PSIP projects.
Speaking on the programme, Deputy Minister Saaid noted that the budget portion allocated for PSIP projects were insufficient, adding that the government incurs expenses on PSIP projects which are more than the allocated amount by year-end. However, the deputy minister stated that the budget proposed by the current administration aims to expedite the completion of the PSIP projects. He further mentioned that the projects will be implemented through managing envelopes, rather than including specific details of each project in the budget.
The budget for next year, anticipates USD 3.2 billion in expenses, which includes USD 2.3 billion for recurrent expenditures and USD 862.3 million for capital expenditures. Minister Zameer of Finance noted that the government expects to receive USD 2.57 billion in donations. He further confirmed that USD 428 million in savings is anticipated due to stringent measures aimed at reducing state expenses.