The Parliament debate on next year's budget concluded on Sunday.
The proposed budget for the next fiscal year stands at MVR 49.5 billion, with allocations of MVR 34.8 billion for recurrent expenditure, MVR 12.5 billion for capital expenditure, and MVR 2.2 billion for debt repayment.
The budget debate began on the 22nd of this month, with each member allocated 15 minutes to share their opinion. During the debate, several members emphasized that the budget presented to the parliament was formulated by the previous government. They noted the need for a supplementary budget next year based on the economic situation of the country. Some members called to adopt special measures to reduce expenditure as the government's debt has soared significantly.
Although the budget debate has ended, the budget study is still ongoing in the Budget Committee. After studying the budget, the Budget Committee will prepare a report and submit it to the Parliament floor. Members will also speak on the report before voting on the budget.
