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State budget 2019 submitted to parliament

13 November 2018, MVT 10:51
People Majlis- budget meeting
13 November 2018, MVT 10:51

The State Budget 2019 of MVR29 billion has officially been submitted to the parliament on Tuesday.

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

Whilst the state budget has been allocated for MVR29 billion, Munawar has estimated that MVR26.7 billion will be spent as expenditure from the state budget. He further estimated an economic growth rate of 6.8 percent for the upcoming year.

Munawar further estimated that the state will collect MVR23 billion as free aid and revenue in 2019.

The finance minister also stated that the goals of the 2019 budget can only be achieved with steady public finance management and added on the importance of having a stable financial system in order to stop corruption and misuse of state funds.

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