Government to cut costs, include new pledges in revised budget
20 Nov 2013, 5:03 PM
Zaheena Rasheed
The People’s Majlis Budget Committee has asked Finance Minister Abdulla Jihad to submit a revised budget on Monday November 25, following new President Abdulla Yameen Abdul Gayoom’s request to cut costs in the state budget for 2014.
Jihad – who also held the post of Finance Minister under former President Dr Mohamed Waheed Hassan – had presented a MVR 16.4 billion budget for 2014 with a projected deficit of 2.5 percent of GDP to parliament on October 30.
Speaking at the Majlis Budget committee today, Jihad asked for five days to revise budget to reduce state expenditure and include the Progressive Party of the Maldives’ (PPM) pledges made during the presidential election.
Yameen has expressed concern over the economic vulnerability of the Maldives and pledged to reduce state expenditure by MVR 1 billion.
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