Parliament’s Deputy Speaker Eva Abdulla has stated that its Budget Committee must finish reviewing the proposed state budget for next year and submit their findings to the floor prior to November 18.
Finance Minister Ahmed Ameer delivered the budget statement to the Parliament this morning.
Following the conclusion of the Minister’s statement – Deputy Speaker Eva, who was presiding over the session, said that the Budget Committee would be formulated today; following which they would have their inaugural meeting and commence their duties today itself.
Parliament’s regulation stipulates that debate on state budget can only commence after a seven-day period from the date on which the budget statement is delivered.
“The main dates are; November 8 – commencing the debate. Committee reviewing the budget should submit their report to us by November 18. Debate on the Committee’s report at Majilis floor is expected to commence on November 22,” she had said.
Additionally, Deputy Speaker Eva said that a vote on the state budget should be asked for by the end of November.
The government proposed a budget of MVR 36.9 billion in total for next year.
The projected total expenditure inclusive of loan repayments and contributions to international financial institutions is MVR 36.9 billion – whilst the projected total revenue inclusive of revenue and grants is MVR 24.2 billion. This means a deficit of MVR 9.7 billion – which is 11.1 percent of the GDP.