Committee to conclude budget review by November 20

The Budget Committee of Parliament has decided to conclude its review of the 2025 budget by November 20. During its most recent meeting, the committee established a timeline for completing the budget review process. It was unanimously agreed that the work will be finalized by November 20. As such, the Governor and the Auditor General of the Maldives Monetary Authority (MMA) have been asked to provide a summary statement on the budget. Furthermore, the committee resolved to request the relevant agencies to gather detailed information on the budgets of independent institutions and individual offices. The meeting also saw the election of the Chairman and Vice-Chairman. Parliamentarian Ali Fazaad, who chaired the Supplementary Budget Committee, was unanimously re-elected as Chairman. Parliamentarian Ahmed Saleem was also selected by unanimous consent to serve as Vice-Chairman. In addition, the committee called on the relevant agencies to compile comprehensive data on the budgets of independent institutions and offices. The budget, amounting to USD 3.7 billion anticipates USD 3.2 billion in expenses, which includes USD 2.3 billion for recurrent expenditures and USD 862.3 million for capital expenditures. Notably, the proposed government budget reflects the lowest deficit in recent years and includes several significant reform measures.