Parliament Speaker Abdul Raheem Abdulla has announced that the Parliamentary debate on the proposed budget for the year 2025 will conclude today, assuring all members who sought an opportunity to speak during the debate will have their say. 

The proposed budget for the coming year outlines MVR 56.6 billion in expenditures. Of this, MVR 49.2 billion is allocated for budgetary spending, comprising MVR 35.9 billion for recurring expenses and MVR 13.3 billion for capital expenditures. This budget was presented to the parliament on 31 October this year.

The Government has characterised this budget as “responsible”, and has highlighted that the budget deficit for the coming year stands at MVR 9.4 billion, making it the lowest deficit in recent years. 

Additionally, revenue projections for the next year include MVR 39.7 billion from budgetary income and grants. The Government also plans to implement cost-cutting measures expected to save MVR 6.6 billion. 

With the debate closing today, the Parliament’s decision on the proposed budget will mark a pivotal step in shaping the nation’s fiscal policies for the coming year.