Kinbidhoo MP Mohamed Nahiz has been appointed as the Chair of the Parliament's Budget Committee.
The proposed national budget for 2023 is researched by a 27-member joint committee comprising the Finance Committee and the Economic Committee members. The committee's first sitting was held on Monday, and 20 members attended the sitting.
At Monday's committee meeting, Alifushi MP Mohamed 'Bigey' Rasheed Hussain moved to appoint MP Nashiz as the chair of the committee. The motion was seconded by Vilifushi MP Hassan Afeef. Kaashidhoo MP Abdulla Jabir proposed to appoint MP Mohamed Rasheed Hussain as the Deputy Chair, and MP Nashiz seconded the motion.
When the opportunity was opened for the members to vote on the appointment of the two members, the motion was passed by a unanimous vote of 19 members.
Since his election to the current 19th Parliament, MP Nashiz chaired the Budget Committee in 2020, 2021, and 2022.
The government has proposed an MVR 42.7 billion budget for the upcoming year. While the Maldives' economy is expected to improve next year compared to the current year, the government hopes to receive MVR 32.1 billion in revenue and grants next year. However, the expenditure for next year has been listed as MVR 40.6 billion, making next year's budget a deficit budget by MVR 8 billion.
The budget debate is scheduled to start on November 8. The Budget Committee's report should be sent to the Speaker before November 17 at the latest. The debate on the committee report is scheduled to take place on November 22, while the budget must be passed before the end of this month.
The first stage of the budget debate is scheduled for November 8, 9, and 10. The Budget Committee has until the 16th of next month to study the proposed budget. The report will be submitted to the Speaker of Parliament on the 17th. Members have been given three days to propose amendments to the budget.