Finance Ministry to submit 41 billion state budget to Parliament on October 31

Ministry of Finance is gearing up to send the proposed MVR 41 billion state budget for the coming year to the Parliament on October 31.

An official from the ministry revealed to Sun on Saturday that while preparations were underway for the presentation, the proposed budget for 2023 is MVR 4 billion more than that of 2022.

For 2022, the Parliament had passed a budget of MVR 36.99 billion.

The official went on to say currently, the final preparations were ongoing.

“Right now, the infrastructure development projects to be included in the budget are ongoing. Next is deciding things to include in the PSIP budget and policy level budget,” said the official.

The ministry informs that the budget will be drafted to meet the mid-term and long-term goals set in the financial policies.

They also note that the budget increment is in line with said policies.