Speaking at the Hoarafushi Airport inauguration ceremony, President Ibrahim Mohamed Solih asked the parliament to approve the Government's proposed budget worth MVR 34.6 billion.
The President spoke in praise of the budget as fiscally responsible and crafted to help the Government overcome the economic challenges of the Covid-19 pandemic. Acknowledging that these are challenging times, the President nevertheless emphasized that the Government is committed to redoubling its efforts to deliver on its major pledges at this critical juncture.
Under the proposed budget the Government plans to invest MVR 4 billion in the health sector; MVR 3.9 billion in education; MVR 3.7 billion in the social sector; and MVR 2.3 billion and MVR 1.8 billion on housing and infrastructure, and environmental protection, respectively. Cumulatively, under this budget, the Government will ensure that its expenditure is geared towards investing in the Maldives’ infrastructural and human infrastructure, and social welfare schemes, including Aasandha.
The President emphasized that now is not the time to limit the scale of the Government’s ambitions and that it is keen on going ahead with projects that will directly enhance the quality of life for our citizens. Acknowledging concerns raised by some towards the Maldives’ level of debt, the President further emphasized that despite the large debt inherited by this Administration from the previous Government, it will work with its dedicated and qualified financial teams to address budgetary issues, while investing in the Maldives’ future.
The President spoke in praise of the budget as fiscally responsible and crafted to help the Government overcome the economic challenges of the Covid-19 pandemic. Acknowledging that these are challenging times, the President nevertheless emphasized that the Government is committed to redoubling its efforts to deliver on its major pledges at this critical juncture.
Under the proposed budget the Government plans to invest MVR 4 billion in the health sector; MVR 3.9 billion in education; MVR 3.7 billion in the social sector; and MVR 2.3 billion and MVR 1.8 billion on housing and infrastructure, and environmental protection, respectively. Cumulatively, under this budget, the Government will ensure that its expenditure is geared towards investing in the Maldives’ infrastructural and human infrastructure, and social welfare schemes, including Aasandha.
The President emphasized that now is not the time to limit the scale of the Government’s ambitions and that it is keen on going ahead with projects that will directly enhance the quality of life for our citizens. Acknowledging concerns raised by some towards the Maldives’ level of debt, the President further emphasized that despite the large debt inherited by this Administration from the previous Government, it will work with its dedicated and qualified financial teams to address budgetary issues, while investing in the Maldives’ future.
