Majlis impasse may obstruct passing of 2011 Budget
20 Nov 2010, 9:20 PM
The 2011 State Budget to be deliberated by parliament next week will target more funds for island development, provide soft loans for small business and encourage private sector job growth, President Mohamed Nasheed said yesterday in his weekly radio address.
A shift from line-item to programme budgeting makes next year’s budget “very different from previous years” as it will direct more resources to islands for managing development programmes.
The budget for individual islands “will be much higher than it was in the past”, Nasheed explained, as the government anticipated “the work of ministries will be reduced and especially, when atoll councils and island councils start functioning, the government believes it will have, that it should have, responsibilities to carry out.”
While the budget includes a programme to offer government guarantees on soft loans to small and medium-sized enterprises, he added, economic policies will aim to spur job growth by strengthening the private sector.
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