The Parliament of the Maldives has approved the MVR 42.8 billion state budget for 2023. The Parliament passed the budget with 61 parliamentarians voting in favour and eight votes against.
The Parliamentary Budget Committee, formed by combining the Parliamentary Committee on Economic Affairs and the Parliamentary Committee on Finance, approved the MVR 42.6 billion budget with a supplemental MVR 160 million. The main changes in the budget include development projects in some sectors and changes in the budget of independent institutions.
During the debate on the committee’s report on the budget, some parliamentarians expressed concerns that the budget would not fulfill the promises made to the public, state-owned companies turning into private businesses, and the government not receiving the estimated amount of free aid and foreign exchange.
Meanwhile, the parliamentarians who spoke in favour said that the budget will achieve equitable development for the citizens and that the budget is a promising one for the future of the country as the government has taken important steps to fulfill its promises to the public and overcome economic challenges.