News

Budget deficit expected to reach MVR 10 bil

Members of the opposition has criticized government proposed budgetary plan for 2018 which has been announced to carry an amount of MVR 28 billion.

According to opposition the recently announced state budget for the upcoming year would not benefit or increase welfare of citizens and would carry a deficit amount larger than state's claim.

Following Wednesday's budget announcement at parliament session, members of the opposition sat down for a panel discussion at Maafannu Kunooz - the prime rally point for the opposition - in order to assess the details of it. Post deliberation, Jumhoory Party deputy leader and Kin'bidhoo constituency lawmaker Abdulla Riyaz strongly criticized state planned budget.

In his statement, the former Police Commissioner had said government has duped the citizens regarding the forecast deficit, which they had claimed would reach MVR 2 billion. However according to Riyaz, the state estimated income for 2018 is marked around MVR 22 billion while the spend curve is higher, and he claimed a deficit of MVR 10 billion will incur.

Riyaz had criticized the reduction of scholarship opportunities in next year's budget and had berated government for apparent hypocrisy with regards to state's initiation over development to Maldives.

"The budget has not been calculated and devised to facilitate basic rights to citizens. For instance state aims to charge a parking fine and accumulate an income of MVR 24 million through this, and their [government] aim seems to be extract money from the citizens in any manner possible. Yet, we do not see the government's plans or workings of increasing parking zones," he said.

Upcoming year's budget has an 8% from the total amount allocated for national security and judicial conduct. Riyaz had criticized this stating the incumbent regime's idea of branding justice is to incarcerate and jail all opposition leaders and manipulating the law for their personal gain.

North-Fuvahmulah constituency lawmaker Ali Shah had similar sentiments and said the budgetary plan does not fulfill 20% of PPM-led government's manifesto promises. He had further noted the upcoming year's budget would once again increase the state debt and it has been drastically increasing every year.

Shah also noted the uncertainty of investment return has led to a slip in foreign investments and he expected such investments would slide down in future.

Maduvvari constituency lawmaker Mohamed Ameeth, who as per PPM has been disqualified, said the upcoming year's budget had further increased the debt on GDP while the current year's deficit increased by 200% indicating corruption in high-ranks of the government.

Additionally the opposition is heavily skeptical about the budgetary plan of 2018 and many voiced it was missing important portions such as funding on political parties and designations as well as several loan details have been omitted out.

Opposition also placed doubt about the projected income and were uncertain if the estimated revenue will be generated to government.

They had referred to several foreign interactions and critical statements by various world organizations over gross misconduct in Maldives which would affect the tourism in Maldives.

Although deliberation on state budget for the next year had carried out at parliament on Thursday, opposition members had decided not to take part in it and rather discuss their opinion on it at their prime camp.