The Maldives parliament approved the 2020 State Budget on 05 December 2019.
Initially, the Minister of Finance proposed MVR37.5 billion for the upcoming year, with an expenditure at MVR35.6 billion.
However, parliament revised the budgetary plan with an increment of MVR366.8 million, bringing up the total to MVR37.97 billion.
Meanwhile, the revised budget’s state expenditure is at MVR36 billion, with an expected annual revenue and grants at MVR29.92 billion.
Health and Education Sectors
As such, the budget for upcoming 2020 has a provision of MVR4.1 billion on health sector.
Moreover, MVR3.6 billion of this allocation will be specific to hospital services with the remaining MVR585.4 million for general health services.
In addition to this, MVR7.95 billion has been allocated for economic affairs.
Meanwhile, the education sector has an allocation of MVR4.5 billion, of which MVR1.1 billion has been allocated for tertiary education.
Housing and Social Protection
As for housing and community amenities, budget allocation for 2020 is MVR3.1 billion.
Moreover, a large segment of this will be focused on housing and community development – MVR2.9 billion.
In addition to this, another MVR3.99 billion has been allocated for social protection.
Meanwhile, the environmental protection has been a serious consideration with a budget of MVR1.8 billion.
Moreover, the largest segment of this the waste water management for which a total of MVR1.1 billion has been allocated.
Defense, Public Order and Safety
As for defense, MVR4.5 billion of which MVR1.5 billion has been allocated for defense related expenditure – with MVR1.3 billion on military defense.
In addition to this, MVR3.0 billion has been allocated for public order and safety of which MVR1.8 billion will be expended on border control and public safety.
Public Services, Recreation, Culture and Religion
Looking at budget allocation on general public services, recreation and preservation of culture and religion, state budget’s provision is at MVR7.9 billion.
As for general public services, the budget allocation is at MVR3.2 billion.
In addition to this, MVR918.8 million has been allocated for recreation, culture and religion of which MVR533.5 million is specific for recreation and sporting services.
As such, the remainder of MVR320.8 million is specific for religious and other community services.
Debt Services and Amortization
As for this segment, Maldives government’s budget allocation for upcoming year is at MVR3.7 billion.
Moreover, MVR1.8 billion of the budget allocation will be specific for public debt transactions.
Thus, the remaining MVR1.8 billion will be expended on interest payment and debt servicing.