The Finance Ministry has stated that discussions will be held with President-Elect Dr. Mohamed Muizzu to prepare the new state budget.
Chief Financial Budget Executive Ahmed Saruvash told Adhadhu that baseline budgets have been evaluated and almost completed.
The state budget for 2024 which needs to be approved by the Parliament will be used in the first year of the new government.
Saruvash said the ministry has not yet had the opportunity to consult with anyone on the budget.
But he said discussions will be held with Muizzu and the transitional committee created by President Ibrahim Mohamed Solih.
"We will work with the President-Elect and the team of the Director General of Transition in formulating the budget and finalizing policies," he stated.
"We have not had a chance to discuss the budget with anyone yet. But we will move forward as the transition teams meet with us."
According to the Finance Act, the Minister of Finance must prepare the budget for each fiscal year and submit it to Parliament at least one month before the beginning of the fiscal year.
The state budget must be submitted to Parliament by October 31 at the latest.
