Male’, Maldives – Earlier today, the Parliamentary Budget Committee has passed the budget for 2021 at MVR 34.9 billion, after an increase of MVR 134 million.
The Finance Ministry of Maldives earlier proposed a state budget of MVR 34.7 billion for the year 2021. With expenses approximated to be MVR 33.3 billion, and income projected was at MVR 17.8 billion in financial aid and revenue, along with a large budget deficit, amounting to MVR 15.5 Billion.
The budget committee greenlit the budget after numerous adjustments to budgets of public service projects and government offices. Budget increments Include:
- MVR 11 Million to the Department of Judicial Administration
- MVR 8.9 Million to Parliament
- MVR 2.5 Million to the Local Government Authority
- MVR 2.1 Million to the Civil Service Commission
- MVR 2 Million to the Judicial Service Commission
- MVR 2 Million to the Elections Commission of Maldives
- MVR 2 Million to the Prosecutor General’s Office
- MVR 2 Million to the Employment Tribunal of The Maldives
- MVR 2 Million to the Family Protection Authority
- MVR 2 Million to the Islamic University
- MVR 2 Million to the Maldives National University
- MVR 1.9 Million to the Broadcasting Commission of the Maldives
- MVR 1.9 Million to the Human Rights Commission of Maldives
- MVR 1.5 Million to the Anti-Corruption Commission
- MVR 1.5 Million to Maldives Inland Revenue Authority
- MVR 1 Million to the National Integrity Commission
- MVR 0.8 Million to the Tax Appeal Tribunal of The Maldives
- MVR 0.5 Million to the Information Commissioner’s Office
The expected revenue for 2021 was also increased by MVR 3.2 billion to MVR 21 billion, this brings the projected budget deficit down to MVR 12.3 billion. The committee agreed income values to be changed to the following values
- TGST – MVR 598 Million
- Green Tax – MVR 253 Million
- Airport Service Charge – MVR 218 Million
- Airport Development Charge – MVR 219 Million
- Land selling and exchange fees – MVR 700 Million
- Income from raw materials – MVR 1.3 Billion
While these changed were passed after discussion with the Ministry of Finance, Finance Minster Ibrahim Ameer has previously said that it is very important for the state budget to be passed without any changes if the country wishes to recover from the indebted situation it is currently facing. This is why, Minister Ameer personally requested all the Parliamentary members to pass the proposed State Budget as it is.
The 2021 budget has been criticized by many MP’s, with Speaker Mohamed Nasheed agreeing that the proposed budget for the upcoming year is not good at all. However, Nasheed said that the previous government is to be blamed for this as it is the consequence of their actions and not of the incumbent government.
