Parliament concludes first stage of debate for next year's budget

The Parliament has concluded the first stage of debate for the proposed budget for the upcoming year.

The Ministry of Finance has proposed a budget of MVR 64.2 billion for the next year. The Majlis began the budget debate last week, with each member allocated a maximum of 15 minutes to speak on the budget.

As the first debate stage concluded today, some members highlighted the need to change the current spending methods. They also called for caution regarding some planned expenditures for the coming year, considering the potential impact on the economy.

Ahmed Saleem, Eydhafushi Constituency and Chair of Budget Review Committee, stated that the government must stop giving certain subsidies to the wealthy. He argued that aid should not be necessary for those who earn above a certain income threshold.

Meekail Ahmed Naseem, Galolhu South Constituency, said that the government should spend in line with the recommendations from the International Monetary Fund (IMF) and the World Bank, but he does not see the government following those guidelines. He also stated that the government must stop hiring political appointees to reduce expenditure, but it continues to do so.

Following the conclusion of the first stage of debate on the proposed budget for next year, the Budget Review Committee is consulting with various institutions regarding the budget. Once the committee stage is finished, members will once again have the opportunity to debate the budget on the Majlis floor.