The Estimated State budget for the year 2018 has been submitted to the parliament of Maldives, People’s Majlis.
An official from Ministry of Finance has confirmed that the budget was sent to the people’s Majlis last Thursday. He mentioned that the projected budget was submitted to the Majlis within the legally mandated time. The official, however, did not disclose any details and highlighted that the details can only be released after the Minister of Finance presents the budget to the Majlis.
The projected State budget for 2017 had been the biggest budget in Maldivian history at MVR 26.7 billion. The MVR 493 million supplementary budget passed by the Majlis last October pushed State expenditure this year to MVR 27.1 billion.
It is stated in the constitution of Maldives that the estimated State budgets must be submitted to the Majlis at least two months before the beginning of the financial year.
With about 2 months remaining until the end of the year 2017, it is important to note that the highest number of developmental projects were conducted in 2017 so far. President Abdulla Yameen Abdul Gayoom, during his recent visit to Dh. Kudahuvadhoo said that the biggest focus of the budget for 2018 was human resource development.
With regard to the fast developmental speed under president Yameen’s administration, the 2018 budget is expected to be the largest budget so far.