Ministry of Finance and Treasury has requested President-Elect Ibrahim Mohamed Solih to prepare the budget as per the policies and the structure of the new administration.
In a press statement, finance ministry has assured to offer technical assistance to the President-Elect in preparing the budget for 2019. The statement noted the national budget has to be compiled and submitted to the Parliament 2 months prior to the commencement of the new fiscal year, as per the Article 96 of the Constitution of the Maldives and the Public Finance Act. The finance ministry and other government agencies have been working since March 2018 to prepare and submit the budget for 2019 to the Parliament by October 31, according to the statement.
The finance ministry highlighted even though the budget will be implemented by the newly elected government, the budget will have to be passed by the time the new government is sworn in. The ministry further noted the current administration believes the budget should reflect the policies and the structure of the new government.