Finance Minister Ahmed Munawwar says the budget for next year is nearing completion and is likely to be fully completed in the coming two weeks.
Speaking to Aas, Minister said they will be able to submit the budget by the 3st of this month. He said the technical details of the budget had been completed. However, the policy side aspects of the budget still needed to be addressed and therefore, that work was ongoing.
Minister said at present he could not state the exact figure of the budget as the technical details can change the budget figures. He added the Ministry had met heads of relevant agencies to discuss the economic metrics of the budget.
"Almost majority of the budget is completed. Our deadline is the 31st October. The remaining work can be completed in two weeks," he said. The financial laws demand the budget be submitted to the Parliament by the month's end.
The Minister said this year's budget focused mainly on infrastructure development.
This year the Parliament passed a budget of MVR 27.5 billion, with an earnings of MVR 22.8 billion.
