Minister: Expected revenue went down due to political turmoil

Minister of Finance and Treasury, Ahmed Munawar has said that the expected state annual revenue could not be acquired due to political turmoil in the country.

Responding to the questions of the committee regarding the Supplementary Budget, Minister Munawar said that the larger portion of the estimate revenue has not been received. And so the MVR 500 million expected from the Special Economic Zone was not received as well.

Minister Munawar said that that an investment of MVR 500 was going to come about ten years ago but that too was obstructed by political turmoil.

He said that the current government faces the same challenge and the investors are ready but the process is slower due to the political tide.

The Finance Minister said that even now the Maldives is being boycotted abroad and holding protests if high level state officials are visiting and create uncertainty among the investors.

Minister Munawar said that the budget is a plan and it needs help for the public, not only the parliament, to be executed.

He said that other countries too have political events and rallies but do not obstruct the economy of their country.