State Budget 2020: MVR 3.35B for Male region, MVR 2.51B for atolls

The state budget for 2020 presented to the Parliament today will have MVR 3.35 billion for projects run in the Male’ city region and MVR 2.51 billion for the remaining atolls in the Maldives.

The biggest such project to be run in the Male’ city region is the bridge to connect the greater Male’ region for which MVR 410.6 million will be spent. MVR 1.3 million will also be spent on the cruise terminal to be established in the greater Male’ region.

Other projects in Male' city:

• Football ground in Villimale – MVR 3.3 million
• Development of the Henveiru football ground – MVR 3.8 million
• Development of Male’ youth center – MVR 11 million
• Road development projects in Male’ city – MVR 98.5 million
• Construction of MNPIC office – MVR 153.6 million
• Construction of King Salman Mosque – MVR 18.8 million
• Redevelopment of East Coast – MVR 23.3 million
• Male’ Industrial village – MVR 4.2 million
• Land reclamation of Gulhifalhu – MVR 146.12 million
• Children’s residential facility in Hulhumale’ – MVR 19 million
• Daycare center in Hulhumale’ – MVR 4.6 million
• Center for elderly – MVR 7 million

After Male’ the biggest investments are in Addu city amounting to a total of MVR 523. The atoll that gained the lowest PSIP project is Vaavu atoll, which is MVR 42 million. The budget will be asked for a vote in the Parliament after it is reviewed by the Budget Committee of the Parliament.

Finance Minister Ibrahim Ameer asked the parliament today to pass the budget as it was presented to turn the hopes of the citizens into reality.

“The 2020 budget will color the dreams of the people and will bring economic development in addition to increasing the wealth of the people,”

“I ask to pass and implement the well-planned budget formed by all government offices. Passing and implementing the budget responsibly, providing the projects included in the budget and halting the projects not included in the budget is important to maintain the credibility of the budget.” said the Minister.

The minister also asked for government-owned companies to be run responsibly and cost-effectively before ending his speech by asking the Parliament to pass the 2020 budget as presented.

The budget of MVR 37.50 is the first budget by the current administration of President Ibrahim Mohamed Solih that is presented to the Parliament.

Minister Ameer presented a budget totaling MVR 37.50 billion with a deficit MVR 5.68 billion. The Minister estimated that MVR 29.92 will be obtained through grants and aid