Budget oversight committee of the parliament has passed the state budget proposed by the government for the year 2017.
The budget was passed with votes from 15 members. The committee did not bring any changes to the total budget. The government proposed a total 26.7 billion Rufiya as the budget.
Speaking at the parliament while proposing the budget to the parliament, Finance Minister Ahmed Munavvar said that the total recurrent expenditure of the budget is 51 percent of the budget and 49 percent of the budget is capital expenditures. He said that it is a very good step taken by the government. In addition he said that 64 percent will be spent on PSIP projects and hence developmental projects can be implemented at a record level.
Measures introduced to increase state revenue include taking an airport development free and selling land for business use. The minister said that Maldives will enter world financial markets and this will bring a lot of progress to the country.
Budget oversight committee passes the budget proposed by the government
