State budget 2023: Biggest budget for education so far

Minister of Finance and Treasury Ibrahim on Monday revealed that the biggest budget allocated for the education sector to date has been included in the state budget for 2023.

He said this while presenting the proposed state budget for 2023 at the Parliament.

The minister said that building a generation of intelligent and innovative generation was one of the biggest investments of this government.

Noting that the government’s long term was to enable students to get an education while being on their own islands, he added that the upgrades to teachers’ salaries have proven to be beneficial.

“This laid foundation for improving the standards of teachers. One aspect of building an innovative and intelligent generation changed to the structure of teachers’ salaries. It is an added incentive for teachers and principals to work on the islands.”

The proposed state budget for 2023 includes MVR 4.6 billion for the education sector. This includes MVR 636.2 million due to the changes brought to the salaries of those working in the sector.

“This is a large investment to build and prosper the nation as how Maldivians want, by themselves.”

Speaking further into this, Minister Ameer revealed that 195 projects for 142 islands were planned for next year to establish buildings and equipment. This is including school buildings and equipment for schools in 21 islands. He also noted that next year, the temporary school in Hiyaa will be replaced by a permanent school.

Highlighting that the opportunity for higher studies has been provided to numerous students under the government first-degree program, the minister revealed that MVR 166.7 has been included in the 2023 budget for this.

He stated that the student loan scheme with smaller interest will be opened for next year as well, and MVR 216.1 was budged.

Overall, the minister said that MVR 856.6 million was included in the budget for higher education.