Minister of Finance and Treasury Ahmed Munawar has submitted the proposed USD 2 billion state budget for 2019 to the parliament.
The proposed budget aims to begin efforts of the new government to provide the services to the people as pledged in the manifesto. In this regard, the budget paves the way to solve the economic and social constraints faced in islands.
Further, to achieve the economic pledges of the incoming government, state budget would give additional support to enhance the benefits from economic activities in Maldives. As such the government shall continue its investments in infrastructure projects. In addition, the budget has prioritised enhancing quality of services given to the public.
It is estimated the government would receive USD 1.5 billion as revenue and grants in 2019, of which tax revenue constitutes as the major item. Meanwhile, the total expenditure for 2019, according to the state budget is estimated to be USD 1.73 billion. Of the total expenditure, 62.1% is marked as recurrent expenditure and 37.9% is capital expenditure.
The budget proposed was compiled jointly by the outgoing government and the incoming government.