The Parliament's Budget Committee has approved the budget for the next year after deducting the funds earmarked for Fushidhiggaru Falhu dredging, President Dr. Mohamed Muizzu's most ambitious project.
The budget for next year had earlier included MVR 400 million for the dredging of the Fushidhiggaru Falhu aimed to address the pressing housing issue in the Greater Male' Area. Commencing the Fushidhiggaru reclamation was among President Dr. Muizzu's pledges for the first 100 days of administration.
The previous government sent a budget of MVR 49.5 billion for Parliament approval. However, the committee approved the budget with an additional MVR 306 million, bringing the total budget to MVR 49.8 billion. Of the MVR 300 million added to the budget, MVR 249 million was added to the PSIP budget. Initially presented at MVR 8.6 billion, the PSIP budget increased to MVR 8.9 billion following the committee's decision.
According to the budget approved by the Budget Committee, revenue projections stand at MVR 33.5 billion, with PSIP expenditures at MVR 8.9 billion. Therefore, a budget deficit of MVR 16.3 billion is anticipated.
A government official who spoke to AVAS strongly criticized the committee’s decision. Allegations were made that the Maldivian Democratic Party (MDP), holding the majority in both the Budget Committee and Parliament, was deliberately impeding the government's housing problem-solving initiatives.
