The Parliament has approved the government’s proposed budget of MVR 56.6 billion for the upcoming fiscal year. Finance Minister Moosa Zameer presented the budget on October 31, and it was passed after extensive debate among lawmakers.
The budget outlines a total expenditure of MVR 49.2 billion, with MVR 35.9 billion allocated for recurrent expenses and MVR 13.3 billion designated for capital projects. Housing became the largest expenditure category, with MVR 4.8 billion allocated for various housing initiatives nationwide.
The Budget Committee had earlier approved the proposal, which was then debated in Parliament. After the debate, the budget was passed, with 70 members voting in favor and 11 members voting against it.
In addition, Manadhoo constituency MP Husni Mubarak proposed an amendment to the Budget Committee’s report, seeking to remove its general recommendations. The amendment was passed with 68 votes in favor and 11 against.
The approved budget reflects the government’s priorities for the coming year, focusing on housing, infrastructure, and other critical areas of development.
The budget outlines a total expenditure of MVR 49.2 billion, with MVR 35.9 billion allocated for recurrent expenses and MVR 13.3 billion designated for capital projects. Housing became the largest expenditure category, with MVR 4.8 billion allocated for various housing initiatives nationwide.
The Budget Committee had earlier approved the proposal, which was then debated in Parliament. After the debate, the budget was passed, with 70 members voting in favor and 11 members voting against it.
In addition, Manadhoo constituency MP Husni Mubarak proposed an amendment to the Budget Committee’s report, seeking to remove its general recommendations. The amendment was passed with 68 votes in favor and 11 against.
The approved budget reflects the government’s priorities for the coming year, focusing on housing, infrastructure, and other critical areas of development.
