State debt will exceed MVR48 bln by year end: finance minister

Minister of Finance and Treasury Ahmed Munawar declared that Maldives will accumulate a debt of MVR 48.6 billion by the end of the year.

While Munawar presented the estimated MVR 29.6 billion State Budget for 2019 at the parliament on Tuesday, he mentioned that MVR 25 billion had been spent on development projects in the past five years and that the stage debt had increased by MVR 23 billion.