Finance ministry asks President-elect Solih to prepare state budget for 2019
The ministry noted that 'the 2019 budget will be implemented by the newly elected government'
Finance Minister Ahmed Munawwar
Ministry of Finance and Treasury has asked President-elect Ibrahim Mohamed Solih to prepare the state budget for 2019.
In a press release issued on Sunday, the ministry highlighted that Article 96 of the Constitution and the Public Finance Act states that the national budget must be compiled and submitted to parliament two months prior to the commencement of the new fiscal year.
The ministry, along with other government agencies, has been working on the budget since March in order to submit it to parliament by October 31.
Further noting that the 2019 budget will be implemented by the newly elected government, the ministry said that the deadline to submit the budget would have passed by the time the government is sworn in; Solih is to take oath of office on November 17.
“However, this administration believes that the 2019 budget should reflect the policies and the structure of the new government”, reads the press release.
Hence, it said that the newly elected president has been asked to prepare the budget ‘as per the policies and structure of the new administration’, adding that the ministry will provide the necessary technical assistance in the process.
Solih won the 2018 presidential election against incumbent President Abdulla Yameen, with 58.4 percent of the votes.
