MVR 1.5b budgeted for new govt projects

The budget for next year includes MVR 1.5 billion for the implementation of the newly elected government's projects.

The Finance Ministry has allocated MVR 8.6 billion for PSIP projects in the budget sent to Parliament. Of this, MVR 1.5 billion has been allocated for projects to be implemented by the new government.

Finance said that the scope of PSIP projects is likely to change in the mid-term as the new government had not launched the budget at the time of preparation and the new government's plans for implementation of development policies have not been defined yet.

However, based on the information provided by the President-elect's office, the budget has pointed out that the major share of PSIP's expenditure in the mid-term of the current budget will be the construction of airports and land acquisition projects planned to be carried out in different islands.

One of president-elect Dr Mohammed Muizzu's biggest infrastructure projects, the dredging of the Fushidhiggaru lagoon, is notable.The budget for this includes the following for the next three years: