The Ministry of Finance has initiated the formulation process for the Medium-Term Budget 2025-2027. A circular has been issued to guide the ongoing preparations for the budget, which is slated for submission to Parliament two months before the start of the new fiscal year.
Minister of Finance Dr. Mohamed Shafeeq highlighted the ongoing efforts under the first phase of the budget composition, noting that new activities, projects, and policy initiatives are being drafted for the next three years. The budget will be based on the government's manifesto, aiming to implement the administration’s policies.
Administrative offices are invited to submit proposals for new policy initiatives as part of the first phase of budget formulation. These proposals should focus on activities and projects planned for the medium term and can be submitted via the Budget Preparation Module of the Bandeyri Portal.
The Ministry emphasised that proposed programs and projects must be new initiatives requiring additional budget allocations and should aim to achieve the goals outlined in the government's manifesto. Submissions should also detail the impact on gender equality and vulnerable groups and align with the Sustainable Development Goals (SDGs).
Furthermore, the Ministry stressed the importance of proposing initiatives that will deliver tangible results corresponding to budgetary expenditures, achieve overarching goals, protect the environment, and mitigate the effects of climate change. Ceilings for new policy initiative submissions have been established.
Local councils defined in the Decentralization Act are exempt from this circular. The deadline for submitting new policy initiatives and measures to increase revenue generation is set for July 4.