The debate for the estimated 2020 state budget has been put on the agenda for the parliament sitting to be held tomorrow.

A mega budget of MVR 37.5 billion was submitted to the parliament by Finance Minister Ibrahim Ameer last week. The budget committee had also conducted a debate regarding the budget, with several lawmakers quizzing the finance minister over the minute details of the budget estimate.

The state budget for 2020 is MVR 35,600 billion with a deficit of 5678 billion along with 29,922 billion expected as free aid and income. The proposed state budget for 2020 is larger than this year’s by 8.5 billion.

Presenting the budget, Minister Ameer said that MVR 35.6 billion is estimated to be spending and the majority of the difference between budget and spending is the MVR 1.9 billion to repay government debts.

While the income for next year is focused on five main sectors, the largest of these sectors is taxation with MVR 17.8 billion; 48 percent. The state budget estimates 6.8 billion in other incomes and 5.2 billion in free aid.

The budget for 2020 also has 59 percent, the highest amount, (MVR 22.2 billion) for recurrent costs with 10 billion for PSIP other capital spending have 5 billion.