President Muizzu Unveils Next Year's Budget Focus: Hospitals, Schools, and 70% Project Completion

President Dr. Mohamed Muizzu has announced that the state budget for the upcoming year has been prepared with a focus on completing essential services that are most needed by the people, including hospitals and schools. The President made these remarks during the sixth episode of the 'Nation Chat' podcast series by Public Service Media (PSM). He revealed that the proposed budget will be submitted to the People's Majlis on October 29. The main objective is to complete and hand over at least 70 percent of ongoing projects. He also highlighted that the government has managed to increase gross and usable reserves to record levels this year, after taking office with the economy on the verge of default. The President emphasized efforts to reduce state expenditures, minimize the budget deficit, and find new revenue sources. He assured that no project, including the Rasmalé project, will add to the state's debt burden, as it is funded through future revenues. He noted that the Middle East conflict had adversely affected tourism and tax revenues but reiterated the government's commitment to managing these challenges.