A state budget of MVR 41 billion estimated for 2023

Finance Minister Ibrahim Ameer announced on Thursday that the state budget to be submitted for 2023 will be MVR 41 billion.

In a press conference held in the President’s Office, Minister Ameer said the current fiscal strategies employed has lead him to estimate that a state budget of MVR 41.5 billion may be submitted next year. He also said work was currently underway to formulate the budget.

“Our aim is to submit the budget in accordance to the fiscal strategy. We are working towards a budget of MVR 41.5 billion. The budget may be increased or decreased after holding policy-level discussions over this matter,” Ameer said.

He estimated that the state is expected to earn over MVR 30 billion in income, and that before this year is over, we may generate an income of MVR 24.9 billion.

Ameer noted that while the Maldivian economy is improving, they had to work in light of the changing circumstances. As the number of tourists that had arrived to Maldives in 2022 is similar to pre-pandemic levels, he believes the nation will achieve the expected goal of welcoming 1.6 visitors this year.