The government has proposed an estimated budget of MVR 56.6 billion for next year, presented by Minister of Finance Moosa Zameer.
The government has proposed an estimated budget of MVR 56.6 billion for next year, presented by Minister of Finance Moosa Zameer.
This represents an increase of MVR 1.6 billion from the current year’s budget. The total budget, inclusive of the supplementary budget, will reach MVR 55 billion.
Projected revenue for next year is MVR 39.8 billion, with MVR 2.6 billion expected from grants.
Recurrent expenditure is estimated at MVR 36 billion, accounting for 64 percent of the total budget, while capital expenditure is set at MVR 13.4 billion. The Public Sector Investment Program (PSIP) has been allocated MVR 12.4 billion, an increase of approximately MVR 3 billion from last year’s allocation.
The budget deficit is projected at MVR 9.4 billion, marking the lowest relative deficit in recent years. This year’s deficit was MVR 18 billion.
Housing is givent the highest priority in the budget, with MVR 1.8 billion allocated to PSIP housing projects, alongside an additional MVR 1 billion in bank loans.
- Total budget: MVR 56.6 billion
- Revenue: MVR 39.8 billion
- PSIP allocation: MVR 12.4 billion
- Deficit: MVR 9.4 billion
- GDP growth: 6.4 percent
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