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State Budget 2019 to be submitted to parliament on Tues

12 November 2018, MVT 10:50
President-Elect Ibrahim Mohamed Solih at the 'Jazeera Holhuashi' opposition gathering. PHOTO/MIHAARU
12 November 2018, MVT 10:50

The State Budget 2019 of MVR 29 billion is to be officially submitted to the parliament on Tuesday.

Minister of Finance and Treasury Ahmed Munawar is to present the MVR 29.6 billion budget, drafted according to the wishes of the opposition coalition including the pledges of President-Elect Ibrahim Mohamed Solih.

The outgoing President Abdulla Yameen Abdul Gayoom gave Solih the opportunity to draft the state budget as per the opposition coalition's wishes earlier this month.

The parliament reconvened late October following a two-month hiatus that resulted from multiple attempts to impeach Abdulla Maseeh, the Speaker of Parliament.

According to the Public Finance Act, the upcoming year's budget, including the projected state revenue and expenditure, must be submitted to Parliament by the end of October. The budget was proposed to the Finance Ministry on October 31.

The parliament had approved a budget of MVR 27 billion for this year, the largest budget passed during President Yameen's regime.

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