Parliament Budget Committee Approves Record MVR 49.8 Billion State Budget for 2024

The Parliament Budget Committee approved a record MVR 49.8 billion budget for 2024 on December 7, 2023. The budget includes MVR 306 million in additional adjustments over the initial proposal of MVR 49.5 billion from the Finance Ministry. Key changes include MVR 43 billion for domestic budget expenditure, an increase of MVR 248 million for the Public Sector Investment Programme (total MVR 8.8 billion), and MVR 600 million for direct subsidies. The committee reallocated MVR 400 million from the Fushidhiggaru Lagoon reclamation project to other initiatives. Total expenditure is MVR 49.8 billion against revenues of MVR 33.5 billion, leading to a deficit of MVR 16.3 billion. The budget includes MVR 17.2 billion in borrowings, MVR 6.9 billion in foreign budget support, and MVR 771 million from green/blue bond sales abroad.

The Parliament Budget Committee approved a record MVR 49.8 billion budget for 2024 on December 7, 2023. The budget includes MVR 306 million in additional adjustments over the initial proposal of MVR 49.5 billion from the Finance Ministry. Key changes include MVR 43 billion for domestic budget expenditure, an increase of MVR 248 million for the Public Sector Investment Programme (total MVR 8.8 billion), and MVR 600 million for direct subsidies. The committee reallocated MVR 400 million from the Fushidhiggaru Lagoon reclamation project to other initiatives. Total expenditure is MVR 49.8 billion against revenues of MVR 33.5 billion, leading to a deficit of MVR 16.3 billion. The budget includes MVR 17.2 billion in borrowings, MVR 6.9 billion in foreign budget support, and MVR 771 million from green/blue bond sales abroad.

The Parliament Budget Committee approved a record MVR 49.8 billion budget for 2024 on December 7, 2023. The budget includes MVR 306 million in additional adjustments over the initial proposal of MVR 49.5 billion from the Finance Ministry. Key changes include MVR 43 billion for domestic budget expenditure, an increase of MVR 248 million for the Public Sector Investment Programme (total MVR 8.8 billion), and MVR 600 million for direct subsidies. The committee reallocated MVR 400 million from the Fushidhiggaru Lagoon reclamation project to other initiatives. Total expenditure is MVR 49.8 billion against revenues of MVR 33.5 billion, leading to a deficit of MVR 16.3 billion. The budget includes MVR 17.2 billion in borrowings, MVR 6.9 billion in foreign budget support, and MVR 771 million from green/blue bond sales abroad.

This story involves 1 source and may affect public understanding of record budget / budget approval.