Committee resolves to complete budget works by November 20th

Parliament’s Budget Committee has resolved to complete works related to the proposed state budget for the upcoming year before November 20^th.

The current administration presented its first budget on Thursday; a projected budget of MVR 56.6 billion for next year.

During a Budget Committee meeting held on Monday regarding how the Committee will proceed with the works on the budget, opposition MDP’s Hanimadhoo MP Abdul Ghafoor Moosa proposed a deadline to complete the works.

Ghafoor’s proposal was backed by Baarah MP Ibrahim Shujau. Ultimately that Committee unanimously passed a deadline of November 20^th to complete works related to the budget.

At Monday’s meeting, the Committee also resolved to send letters to the Auditor General and the central bank’s Governor seeking their summary statement regarding the proposed budget and the necessary documents from various government offices and independent institutions.

The Committee also elected a chairperson and a vice chairperson during the meeting. In this regard, Central Fuvahmulah MP Ali Fazadh was elected the chairperson while Eydhafushi MP Ahmed Saleem was elected the vice chairperson.

The projected total expenditure for next year is MVR 42.9 billion; with MVR 35.9 billion out of this total allocated for recurrent expenditure and the remaining MVR 13.3 billion on capital expenditure. The government projects an annual total revenue of MVR 39.8 billion, inclusive of a projected MVR 2.5 billion in foreign grants.