Parliament begins deliberations on revised State Budget

Parliament of the Maldives has commenced deliberations on the revised State Budget proposed by the Budget Committee of the Parliament.

The budget report was presented to the Parliament by Chair of the Budget Committee Mohamed Nashiz on November 29. Speaking on the changes brought to the budget during committee review, Nashiz noted there is a net increase of USD 13 million to the budget proposed by the government. Nashiz said projected state income has been increased from USD 1.16 billion to USD 1.36 billion in the revised budget. He also noted USD 8.8 million has been added for Public Sector Investment Programme (PSIP) projects, while an average of USD 100,000 was added to the budget of every state institution or office.

Most parliamentarians who deliberated on the revised budget endorsed the changes brought by the committee. Parliamentarian Ibrahim Shareef noted although the budget has a large deficit, it includes all the important expenses needed to fulfill the basic needs of the people and carry out important projects for long-term development. He expressed hope the budget will pave the way for economic recovery following the COVID-19 pandemic.

The State Budget submitted by Ministry of Finance for 2021 amounts to USD 2.26 billion. Under the proposed budget the government plans to invest USD 260 million in the health sector, USD 253 million on education, USD 240 million on the social sector; as well as USD 150 million and USD 117 million on housing and infrastructure, and environmental protection, respectively.