Govt. to submit MVR 35 billion state budget for 2021

Finance Ministry has announced it plans on submitting a MVR 35 billion projected state budget for the coming 2021.

In an interview to Public Service Media (PSM), Finance Ministry’s Chief Financial Budget Executive Ahmed Saruvash Adam stated that the projected state budget for 2021 is approximately MVR 35 billion, and will be submitted to the Parliament for approval before the end of October.

According to the law, the government is required to submit the projected state budget before the end of October 31.

Finance Ministry continues to be engaged in finalizing the budget, and has yet to disclose any further details.

The Parliament had passed a MVR 37.8 billion projected state budget for the current year. However, with the drastic hit to income and rise in expenditure due to the COVID-19 pandemic, the Finance Ministry has announced it will be revising the 2020 budget and resubmitting it to the Parliament.

Saruvash told PSM in his interview that the Finance Ministry will be submitting a MVR 31 billion revised budget for 2020.