Parliament approves MVR 49.8 billion budget for 2024

Dec 13, 2023, 2:46 PM
Parliament approves MVR 49.8 billion budget for 2024

The Parliament on Wednesday unanimously approved MVR 49.8 billion as the state budget for 2024.

The finance ministry proposed a budget of MVR 49.5 billion. But MVR 306 million was added to the budget at the committee stage.

The budget also includes MVR 10 million for the Attorney General's Office to carry out legal work required to resubmit the maritime boundary decision between the Maldives and Mauritius.

The committee deducted MVR 400 million allocated for the Fushidhiggaru lagoon reclamation project which was planned to begin within the first 100 days of the government.

The Maldivian Democratic Party (MDP) faced criticism over the decision, but the majority party said the funds would be used on projects launched by the former government in Gulhifalhu and Giraavaru Falhu.

The committee also changed the budgeted amounts for public sector investment (PSIP) projects. The PSIP budget increased by MVR 248 million after some projects were removed. The total amount for PSIP projects in the approved budget is about MVR 8.8 billion.

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