Total proposed budget for 2020 is MVR 37.5 billion, of which total expenditure is MVR 35.6 billion. Total revenue and grants proposed for 2020 is MVR 29.9 billion. As a result, budget deficit is expected to stand at MVR 5.7 billion in 2020, which is 5.8% of GDP.read more
President Ibrahim Mohamed Solih has marked 1 year in office. During this term significant achievements has been achieved by the financial sector. In this regard, the major focus was given to strengthen the systems & establish transparency and good governance through sound regulation and procedures.
A ceremony was held yesterday at Kurumba Madlives for the signing of a Framework Agreement of 1.5 billion U.S. Dollars, with International Islamic Trade Finance Corporation (ITFC) for collaboration in trade and economic development.More
The 2019 Annual Meeting of the World Bank Group was held in Washington D.C. from 18 – 20th October 2019. Minister of Finance, Hon. Ibrahim Ameer headed the delegation as the Governor for Maldives to the World Bank Group. Alternate Governor to the World Bank Group, Minister of State for Finance, Hon. Ismail Alimanik also attended the annual meetings.More