The government has proposed a 42.6 billion rufiyaa budget to the parliament for the next year.
Speaking at the parliament, Finance Minister Ibrahim Ameer declared that the total budget projected for next year is 42,680,269,924 rufiyaa.
The minister stated that 40.6 billion MVR will be allocated for expenditure, 28.6 for recurrent expenditure, and 14.1 for capital expenditure. He added that a large part of the difference between the budget and expenditure is taken by the 2.1 billion MVR to be used to clear the state’s debt.
“From 2023’s budget, 12.9 billion MVR will be used to pay salaries and pensions. For recurrent expenditures like goods and services, transportation, and development, 5.6 billion will be used. For subsidies and aid, 6.6 billion. Of capital expenditures, the most will be spent on the public sector investment program. That is the 8.4 billion MVR allocated for development projects,” said Ameer.
Noting important parts of the budget, the minister stated that connecting islands and people with a transportation system is a crucial element of the envisioned ‘Jazeera’ development. He added that Raajje Transport Link (RTL) is making this vision true and with RTL's services, a revolutionary change has come to the transportation system.
“Bodu Thiladhunmathi is in that ease. Easily connecting all the islands with a fast ferry system is of crucial importance. Work has started for next year’s project of connecting together the whole of Huvadhoo with RTL’s vessels. In addition to that, RTL will cross the equator and connect Fuvahmulah, Addu, and Huvadhoo together. And the whole of Maldives will be interconnected in a large transportation network,” Ameer said.
The minister stated that it is important to continuously carry on with increasing economic activity without stopping. He added that work has started on the international port in Gulhifalhu and the bridges connecting Male’, Vilimale’, Gulhifalhu, and Thilafushi and that these projects are an important cornerstone for economic flexibility.
Ameer claimed that the housing crisis in Male’ will get a great solution next year. He also stated that Maldives is an import-dependent nation and that it is important to provide cheap imported goods to the people with stable pricing.
Ameer stated that the first budget proposed after the country recovered from the Covid-19 pandemic is the 2023’s budget. And that this budget was arrived at after “crossing a stormy economic sea” and that the economic hurdles faced by the world are still great.
Ameer said that conditions that can change the whole world’s economic order are here today. And that the Russia-Ukraine war has made oil prices rise and the inflation rates of governments are increasing. He assured that the budget was planned with the global economic uncertainties in mind, to keep the national economy afloat and the people’s needs met.
Ameer stated that 2023’s budget is a plan to unceasingly serve the needs of the people, a reliable roadmap based on the good experience from these past years. He added that the biggest goal of 2023 is fulfilling the President’s campaign promises. And solving long-standing issues faced by the people.
Speaking at the parliament, Finance Minister Ibrahim Ameer declared that the total budget projected for next year is 42,680,269,924 rufiyaa.
The minister stated that 40.6 billion MVR will be allocated for expenditure, 28.6 for recurrent expenditure, and 14.1 for capital expenditure. He added that a large part of the difference between the budget and expenditure is taken by the 2.1 billion MVR to be used to clear the state’s debt.
“From 2023’s budget, 12.9 billion MVR will be used to pay salaries and pensions. For recurrent expenditures like goods and services, transportation, and development, 5.6 billion will be used. For subsidies and aid, 6.6 billion. Of capital expenditures, the most will be spent on the public sector investment program. That is the 8.4 billion MVR allocated for development projects,” said Ameer.
Noting important parts of the budget, the minister stated that connecting islands and people with a transportation system is a crucial element of the envisioned ‘Jazeera’ development. He added that Raajje Transport Link (RTL) is making this vision true and with RTL's services, a revolutionary change has come to the transportation system.
“Bodu Thiladhunmathi is in that ease. Easily connecting all the islands with a fast ferry system is of crucial importance. Work has started for next year’s project of connecting together the whole of Huvadhoo with RTL’s vessels. In addition to that, RTL will cross the equator and connect Fuvahmulah, Addu, and Huvadhoo together. And the whole of Maldives will be interconnected in a large transportation network,” Ameer said.
The minister stated that it is important to continuously carry on with increasing economic activity without stopping. He added that work has started on the international port in Gulhifalhu and the bridges connecting Male’, Vilimale’, Gulhifalhu, and Thilafushi and that these projects are an important cornerstone for economic flexibility.
Ameer claimed that the housing crisis in Male’ will get a great solution next year. He also stated that Maldives is an import-dependent nation and that it is important to provide cheap imported goods to the people with stable pricing.
Ameer stated that the first budget proposed after the country recovered from the Covid-19 pandemic is the 2023’s budget. And that this budget was arrived at after “crossing a stormy economic sea” and that the economic hurdles faced by the world are still great.
Ameer said that conditions that can change the whole world’s economic order are here today. And that the Russia-Ukraine war has made oil prices rise and the inflation rates of governments are increasing. He assured that the budget was planned with the global economic uncertainties in mind, to keep the national economy afloat and the people’s needs met.
Ameer stated that 2023’s budget is a plan to unceasingly serve the needs of the people, a reliable roadmap based on the good experience from these past years. He added that the biggest goal of 2023 is fulfilling the President’s campaign promises. And solving long-standing issues faced by the people.
