The Budget Committee of the People’s Majlis has approved to complete the work on the 2025 state budget before November 20.
The decision was passed at the committee meeting held on Monday.
The proposal to complete the budget work before November 20 was submitted by committee member and MP For Hanimaadhoo constituency representing main opposition Maldivian Democratic Party (MDP), Abdul Ghafoor Moosa.
The proposal was backed by MP for Baarah constituency Ibrahim Shujau.
The decision was passed unanimously by the committee members.
The committee also decided to address letters to the Auditor General and the Governor to obtain summary statements of their views on the budget.
Further, it was decided to address letters to independent institutions and government agencies to obtain necessary administrative documents.
The committee also appointed MP for Central Fuvahmulah constituency representing the ruling People’s National Congress (PNC), Ali Fazad as the chairperson of the committee reviewing the government-proposed budget for the coming year.
PNC lawmaker for Eydhafushi constituency Ahmed Saleem was elected as the deputy.
The estimated budget for the year 2025 was submitted to the People’s Majlis on October 31. The budget proposed for the coming year totals MVR 56,647,600,859.
Minister of Finance Moosa Zameer submitted the proposed state budget for the upcoming year, during the parliamentary sitting on October 31.
He said that the expenditure would be capped at MVR 49.2 billion including MVR 35.9 billion as recurrent expenditure and MVR 13.3 billion as capital expenditure.
Further, the minister added that MVR 12.4 billion has been earmarked for the Public Sector Investment Program (PSIP) in next year's budget.
It is estimated that MVR 39.8 billion will be received as revenue and grants in 2025 and a deficit budget of MVR 9.4 billion is being proposed for the coming year.
Zameer stated that MVR 6.6 billion will be reduced through cost-cutting measures.
The 2025 budget includes the implementation of reforms throughout the year.
