Government has proposed a budget of 26.7 billion Rufiyaa with an 11 percent decrease on recurrent expenditures.
Proposing the budget to the parliament Economic Minister Ahmed Munavvar said that around 51% of the budget is recurrent expenditures and that is a decrease of 11 percent if compared to this year’s budget. He further said that 49% of the proposed budget is capital expenditures and that is a great development.
The minister said that 64% of it will be spent on PSI projects and hence, developmental projects will increase to a record level. Steps introduced to increase revenue includes taking an airport development charge fee and sale of land for business purposes. He further said that Maldives will see great developments economically next year.