K. Male'
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15 Nov 2017 | Wed 12:17
Finance Minister Ahmed Munawwar
Finance Minister Ahmed Munawwar
People Megazine
State Budget 2018
Finance Minister submits the 2018 state budget to parliament
The proposed budget is a total of MVR 27.9 billion
The 2018 state budget projects a revenue of MVR 22.4 billion
While last year's budget was MVR 26.7 billion, with the addition of the recently passed supplementary budget, this year’s budget has hit a high of MVR 27.3 billion
Aishath Shaany
Aishath Shaany
2,698

Minister of Finance and Treasury, Ahmed Munawwar, presented the proposed 2018 state budget to parliament on Wednesday.

The proposed budget is a total of MVR 27.9 billion, over a billion more than the record MVR 26.7 billion passed for this year.

The 2018 state budget projects a revenue of MVR 22.4 billion, with a Gross Domestic Profit (GDP) of 3.2 percent. Next year's deficit is estimated to be MVR 2.5 billion.

While MVR 26.7 billion was passed for 2017, a supplementary budget of MVR 493 million was passed by parliament back in October this year. Hence this year's total budget has reached MVR 27.3 billion. While a revenue of MVR 27.3 million was estimated, Minister Munawwar had admitted that the state did not receive the anticipated earnings.

Last updated at: 10 months ago
Reviewed by: Miuvaan Mohamed
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