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 loan agreement signing ceremony for the Outer Islands Harbors, Water Supply and Sewerage Facilities Project, a project financed by the OPEC Fund for International Development (OPEC Fund), was held at the Hotel Jen today. Under this agreement, the OPEC Fund has provided financing of USD 50 million for the Project.More