Majlis passes budget bill as approved by the Committee

The People’s Majlis has today passed the Budget Bill, set at 24.3 billion, for the coming year as adjusted and approved by the Budget Committee of the Majlis.

In today’s session of the Majlis, 60 members voted in favor of passing the Budget Bill, while 19 members voted no. Before the Speaker moved to a vote on the Bill itself, he tabled votes on 18 budget recommendations made to amend the Bill. However, none of those amendment recommendations gained enough votes to sustain itself.

While the opposition Maldivian Democratic Party (MDP) has announced a policy of not voting for the Budget Bill, one of its most prominent leaders and former Interim Chairperson, who is now the Deputy Speaker of the Majlis as well, voted in favour of the Bill.

Submitting the Bill to the Majlis, Abdullah Jihad, the Minister of Finance had said that 65 per cent of the budget for the next year has been set for recurrent expenditure, totaling some 15.8 billion Rufiyaa. 13 per cent of the budget would be spent on social security and welfare.

Government income for the coming year has been estimated to be about 21.5 billion Rufiyaa.

The government has proposed five measures to increase its income. They are the revision of import duties on certain imported items, introducing a green tax, starting an investment fee on the Special Economic Zone, raising money through the housing schemes, and renting ten more islands for resort building projects.

Among the biggest PSIP (Public Sector Investment Program) projects for the next year include development of the Ibrahim Naasir International Airport (INIA), building a bridge to connect Malé and Hulhumalé, and upgrading Indira Gandhi Memorial Hospital, the largest hospital in the country.