The proposed state budget for 2024 has allocated USD340 million for the education sector, marking a 14% increase over the current 2023 budget.
The government consistently prioritises the sector with budgetary increments, underscoring its commitment to education. As such, the budget for next year allocates USD340 million, translating to USD3,510 per student. It also allocates USD300 million for recurrent expenditure and USD53 million for capital expenditure, surpassing the current year's budget in both categories.
The government has planned to allocate USD36 million for the student loan scheme, with a specific focus on student financial support. As such, USD10 million will be allocated for the free degree programme, indicating a 7% reduction compared to the current year.
The government has also planned to allocate USD15 million for projects such as school and university buildings as infrastructure development within the education sector is also a key facet of the budget. In addition, USD212 million has been allocated to teachers' salaries, marking a 12% increase from the current year. Higher education scholarships have also been allocated USD12 million in the upcoming budget, further contributing to the government's multifaceted approach to educational development.