MP Nashiz elected as Budget Committee’s Chairperson for third year in a row

Kinbidhoo MP Mohamed Nashiz has been elected as the Parliament Budget Committee’s Chairperson for the third year in a row.

MP Nashiz was elected chairperson with the unanimous vote of the members of the Committee. He had chaired the Committee last year – as well as the year before.

Meanwhile – Committee members had unanimously voted to appoint Alifushi MP Mohamed Rasheed Hussain (Big-A) as the Vice-Chairperson. Big-A was also served as the Vice-Chairperson of the Committee last year.

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.

Parliament’s Deputy Speaker Eva Abdulla said that the Budget Committee must finish reviewing the proposed budget and submit their findings to the floor prior to November 18.