Male’, Maldives – Budget evaluation committee of the Parliament of Maldives has appointed Kinbidhoo constituency MP, Mohamed Nashiz as the chair of the 2021 budget committee.
The committee had appointed Alifushi constituency MP, Mohamed Rasheed Hussain as the deputy chair of this committee. Both MP Nashiz and MP Mohamed Raseed held the same posts in the 2020 budget committee as well.
At the committee’s first meeting yesterday, committee rules were passed and it was decided that Finance Minister Ibrahim Ameer was to be summoned to the committee.
The meeting was attended by 21 parliamentarians, and Nashiz was elected the committee chair with a majority vote of 20.
Minister Ameer revealed a state budget of MVR 34.7 billion for the year 2021 at a previous Parliament meeting.
Minister Ameer added that government income is projected to be low in 2021 and that they expect to receive an estimated MVR 17.8 billion in financial aid and revenue. The 2021 budget is structured to overcome losses suffered in the communities and the economic setbacks caused by Covid-19 and to implement important policies in the “Jazeera Rajje” manifesto.
The main revenue source, income from tax, is expected to be MVR 9.8 billion in 2020. Other non-tax incomes are anticipated to account for MVR 5.6 billion of total government revenue.
Minister Ameer explained that this income value is very low compared to pre-pandemic standards, but that it is a 21 percent increase from projected 2020 income values. The Finance Minister added that normal revenue levels can only be hoped to be achieved in they year 2023.