MVR 29.6B budget to be presented on Nov. 13

The Projected State Budget for 2019 will be presented to the People’s Majlis next Tuesday, says Minister of Finance and Treasury.

Minister Ahmed Munawwar reports the MVR 29.6 billion projected State budget was compiled under the advisement of President-elect Ibrahim Mohamed Solih by incorporating the incoming administration’s policies.

The biggest State budget passed in Maldivian history was the MVR 27.9 billion budget for 2018 passed by People’s Majlis last year.

A 2012 amendment to the Treasury Act makes it compulsory for Ministry of Finance and Treasury to submit the State budget at least two months prior to start of next financial year.