Parliament passes MVR 37.8 billion state budget

The 19th parliament has approved the 2020 state budget of MVR 37.8 billion.

77 MPs, out of the 86 in the 19th parliament excluding the speaker, voted to pass the budget as reviewed by the Budget Committee.

While MVR 37.5 billion was the initial total amount proposed by the for the upcoming budget, the Budget Committee added MVR 366 million, with MVR 93.5million allocated to fund independent institutions, and MVR 273.3 million in funding allocated to PSIP (Public Sector Investment Programs).

The additional amount brings the budget deficit up to 6.2% from 5.8% of GDP.