Finance minister presents MVR26.7bn budget for 2017
Along with an ambitious infrastructure scale-up, the finance minister said the budget is geared towards bringing the Maldives’ growing debt on a sustainable footing
08 Nov 2016, 9:00 AM
Finance Minister Ahmed Munawar presented for parliamentary approval Tuesday an MVR26.7 billion (US$1.7 billion) budget for 2017, almost a billion less than this year’s record budget.
Along with an ambitious infrastructure scale-up, Munawar said the budget is geared towards bringing the Maldives’ growing debt on a sustainable footing with new policies to reduce the longstanding gap between spending and income.
“This budget will be one that fulfils the government’s pledges to the people,” he said.
“To this end, the state’s recurrent expenditure will be lowered and a large amount will be spent on projects to pave the way for the transformative changes the government wants to bring to the Maldivian economy.”
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