Committee approves supplementary budget
The supplementary budget reflects the government's focus on infrastructure, public welfare, and essential services.
In a session held on Monday, the Budget Review Committee unanimously approved the government's proposed supplementary budget.
Presented by the Finance Ministry on Thursday, the supplementary budget seeks to add MVR 5 billion to last year’s budget, increasing this year’s total budget allocation to MVR 55 billion.
The supplementary budget was submitted to parliament on Thursday, with swift referral to the Budget Review Committee for consideration.
On Monday, the Budget Study Committee advanced the supplementary budget, supported by MP Mohamed Abbas, leading to its approval in the committee.
The supplementary budget reflects the government's focus on infrastructure, public welfare, and essential services. Major allocations within the MVR 5 billion expansion include:
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Public Sector Investment Program (PSIP) – MVR 2 billion has been earmarked to support and accelerate PSIP projects, emphasizing the government's commitment to infrastructure development.
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State-Owned Enterprises (SOEs) – MVR 441.1 million will be allocated to support SOEs, helping maintain their operational efficiency and public service capabilities.
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Contingency Budget – With an additional MVR 650 million, the contingency budget is being bolstered to address unexpected expenses or emergencies, strengthening fiscal resilience.
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Student Loans – In support of education and skills development, MVR 458 million has been designated for student loans, facilitating access to education for Maldivian students.
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Medical Support and Consumables – The budget includes MVR 200 million for medical consumables and MVR 262.6 million for medical assistance, aimed at improving healthcare services and accessibility.
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Subsidies – To ensure continued support for essential goods and services, MVR 1.02 billion has been allocated for subsidies, underscoring the government’s commitment to protecting vulnerable populations.
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Salary and Wages – MVR 24.4 million has been allocated for salary and wages, addressing adjustments and ensuring fair compensation for public sector employees.
