The Ministry of Finance and Treasury has revealed that they will be presenting the proposed state budget for 2019 to parliament on 31st October.
According to the Ministry, final procedures are proceeding full steam ahead and they will be able to present the state budget to Parliament by Wednesday.
Finance Ministry, jointly with the opposition coalition, are comprising next year’s state budget.
Ibrahim Amir, member of MDP’s economic committee as well as the transition committee, stated that next year’s budget will be one that does not exceed the Gross Domestic Profit (GDP) of 2018’s state budget.
As mandated by law, 31st of October, which falls on a Wednesday this year, is the deadline for proposing the state budget for every year.
The Maldives constitution states that prior to the commencement of each financial year, the Minister of Finance shall submit a budget containing te projected revenue and expenditures for the year and a statement of actual revenue and expenditures for the preceding year for approval to the Parliament.
