Minister of Finance Ibrahim Ameer has stated if the proposed State Budget for 2020 gets approved, a surplus budget would be introduced in the coming years. The finance minister made the statement at a meeting of the Parliamentary Committee on the State Budget.
Finance Minister Ameer said the aim is to bring the desired developments and continue providing basic services to the Maldivian people. He was extremely optimistic about attaining a surplus budget in the future if the proposed budget for 2020 is passed as the way it has been put forward.
The finance minister stated Public Sector Investment Programme (PSIP) gives first priority to economic and industrial development in all areas of the country and the budget is designed in a way to increase public expenditure in order to enhance economic activity. He said the Sovereign Development Fund has been increased from USD 90 million to USD 191 million in the past year. He said the development projects will bring the needed economic development to the country.
Minister Ameer also noted that industrial projects would begin in all areas of the country at the beginning of next year and requested to pass the annual budget as the way it has been put forwarded by the government.
Meanwhile, parliamentarians who debated during the budget review session noted the projects earmarked would bring development to all areas of the country.