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| Minister of Finance & Treasury of Maldives, Mr. Abdulla Jihad. Photo by: Finance Ministry |
The proposed State Budget of Maldives for 2016 with MVR 27.4 billion
has been approved from the People’s Majlis. A total of 59 MPs voted in favor
while 19 MPs voted against. The MVR 27.457 billion budget was submitted to the
parliament for approval on 12th November 2015. The budget review
committee passed the budget without considering the 11 amendments proposed by
the opposition MDP to the total amount of MVR 27.4 billion. While MDP was the only political party to
suggest amendments to the proposed State Budget for 2016, the only amendment
from the committee was providing MVR 20 million for the judiciary. Below are the details of the proposed State
Budget of Maldives for the year 2016.
Budget Overview:
- Total: MVR 27.457 billion
- Capital Expenditure: MVR 11.26 billion
- Recurrent Expenditure: MVR 2.75 billion
- Salaries and Allowances of State Employees: MVR 7 billion
- Estimated Revenue: MVR 28.7 billion
- Budget deficit: MVR 3.4 billion
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