MP Mamdooh Hails 2024 Budget as Most Successful for Addressing Housing Crisis

Funaadhoo constituency member, Mohamed Mamdooh, stated that the necessary services for the Maldivian people are being provided fully and that projects have been carried out to the extent feasible across the country this year. Speaking on the budget proposed for next year and submitted to the People's Majlis, Mamdooh said that this year was the year in which the most work was initiated in the history of the country to find a solution to the housing issue. "Repaying debts proportionately, providing the services that need to be given to the people fully, running government projects to the extent feasible across the country, and highlighting our esteemed President," Mamdooh said. "This year, although it was the year when we faced the greatest difficulty with the mentioned debt, if we look at the entire Maldives, this year was the most successful year in which the most work was initiated to find solutions to the biggest problems, particularly the housing issue." Mamdooh stated that these things were done as a result of the efforts made by this government to improve the country's financial situation. In this regard, he noted that the amount paid as debt alone this year is the largest amount ever paid in the country's history. Mamdooh said that the budget proposed for next year and submitted to the Majlis is a very hopeful budget, and he expressed certainty that a large part of the projects currently underway in various parts of the country will be completed within the framework of that budget. Finance Minister Hassan Zareer presented a budget of 59.7 billion rufiyaa to the Majlis for next year. This is approximately 4.5 billion rufiyaa less than the 64.2 billion rufiyaa budget passed for this year. Although the total budget has decreased, state expenditures next year will reach 52.6 billion rufiyaa, an increase of 3.3 billion rufiyaa compared to this year. Out of this, the budget has allocated 42.7 billion rufiyaa to maintain recurrent expenditures for running the government, while expenditure for development projects has increased to 9.9 billion rufiyaa. Due to the increase in expenditures, it is estimated that the budget deficit for next year will reach 9.4 billion rufiyaa. This represents an increase of 25 percent over the estimated deficit amount at the end of this year. The total budget decreased because the amount of debt that needs to be repaid next year decreases to 4.5 billion rufiyaa.