The Ministry of Finance has presented, for parliamentary consideration, a proposed National Budget of MVR 56.6 billion for 2025.
Presenting the budget at Parliament on Thursday, Minister of Finance Moosa Zameer explained that expenditure would be capped at MVR 49.2 billion, with MVR 35.9 billion allocated for recurrent expenditure and MVR 13.3 billion for capital expenditure.
“In addition to these expenditures, the budget mainly includes MVR 3.9 billion for state debt repayment,” he said during his budget presentation.
According to Zameer, MVR 378 million has been earmarked for capital allocations and other investments in state-owned companies.
In addition, the administration has allocated MVR 3.2 billion for loans, including MVR 1 billion for housing loans at five percent interest.
The state is expected to receive MVR 39.8 billion in revenue and grants next year, leaving the budget with a MVR 9.4 billion deficit.
