Malé, Maldives – Minister of Finance Ibrahim Ameer, ealier today, presented the proposed budget for the year 2022 to the Maldives parliament.
The proposed budget by the state for the year 2022 is set at MVR 36.9 billion.
The total expected revenue inclusive of 63 percent as taxes (MVR 15.4 billion), 25 percent as non-tax revenue (MBR 6 billion) and 12 percent as grant assistance (MVR 2.9 billion) is at MVR 24.2 billion while the total deficit is at 11 percent (MVR 9.7 billion).
The tax revenue is broken down into tourism goods and service tax (MVR 4.8 billion), general goods and services tax (MVR 2.8 billion), green tax (MVR 2.9 billion), import duty (MVR 3.2 billion), business and property tax (MVR 2.7 billion) and airport service charge (MVR 769 million).
The total expenditure excluding loan repayments and proceeds to International Financial Institutions (IFIs) is at MVR 34 billion including 67 percent as recurrent expenditures (MVR 24.8 billion), 17 percent as Public Sector Investment Programs (PSIPs) (MVR 6 billion) and 16 percent from other capital (MVR 5 billion).
The parliament will complete committee investigations of the proposed 2022 budget before 18 November 2021.