The Minister of Finance, Ibrahim Ameer has revealed that the biggest budget allocated for education and higher education in history, has been proposed in the state budget for the year 2023.

The minister said this during Monday’s People’s Majlis sitting where the minister officially submitted the proposed state budget of MVR 42.68 billion for the upcoming year.

As such, Minister Ameer revealed that the incumbent administration’s biggest aim in the long run was to pave the path for students to acquire excellent education in their home islands.

Minister Ameer revealed that the pay harmonization incepted since May 2022, has yielded positive results in the education sector and laid a foundation to improve the standards of teachers.

Highlighting that this was done to improve the quality of teaching which is essential to build an educational and innovative generation of students, Minister Ameer stated that the upgrades to the salaries of teachers will empower teachers and principals employed in outlying atolls.

The projected state budget for 2023 includes MVR 4.6 billion allocated for the education sector including MVR 636.2 million that was added due to changes brought to the salaries of education sector employees.

Further, Ameer announced that 195 projects will be launched in 142 islands next year, to establish more buildings and amenities including school buildings and equipment for schools spanning 21 islands.

He also noted that the incumbent administration’s first-degree programme has paved the opportunity for higher studies to several students.

The state budget for the upcoming year also allocated MVR 166.7 million for this purpose.

In addition to this, the student loan scheme with reduced interest rates will also proceed through 2023 as well, for which MVR 216.1 million was budgeted.

The minister predicts an overall figure of MVR 856.6 million in the budget for higher education.

The state budget for 2022 allocated MVR 4.1 billion for the education sector.