Minister of Finance Ibrahim Ameer confirms state budget for 2023 will exceed MVR 41 billion.
The minister made the declaration during Thursday’s press conference.
Moreover, the minister claims this was a rough figure as the actual amount cannot be declared amid ongoing budget analysis. “We estimate the budget for the state for 2023 will be above MVR 41.5 billion,” he said adding, “the budget will reflect fiscal strategies for the following year.”
With elections slated for 2023, the administration is vying against time to complete major developmental projects that have been state pledges.
Budget approval post amendments at the parliament is expected in November 2022.