A record budget of MVR 27.9 billion has been presented to the parliament today by the Minister of Finance, Ahmed Munawwar.
During the budget proposal, Minister Munawwar said that the estimated expenses for next year are approximately MVR 24.9 billion. He said that the government has received 22.4 billion rufiyaa as aid and the budget deficit is approximately MVR 2.5 billion. The minister also said that a lot of last year’s services were provided through budget expenditure and the GDP per capita has increased.
In addition, he said that by the end of next year, GDP per capita will increase to USD 10,000 and by the end of this year, economic development will rise to 6.8%.