Record US$2.4bn budget proposed for 2020
Funds allocated for new bridge, seaport and 10,000 housing units.
04 Nov 2019, 9:00 AM
Finance Minister Ibrahim Ameer presented to parliament on Monday a record MVR37.5 billion (US$2.4 billion) budget for 2020, outlining ambitious plans to begin work next year on delivering key manifesto pledges.
Total expenditure of MVR35.6 billion, of which 59.4 percent is recurrent expenditure and 40.6 percent is capital investment
MVR1.9 billion for debt repayment
Revenue and grants projected at MVR29.9 billion, of which MVR17.8 billion is expected from taxes, MVR6.8 billion from non-tax revenue and MVR5.2 billion as grant aid
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