Budget Aim
The National Budget 2023 is formulated to achieve the targets set by the National Resilience and Recovery Plan, improve the quality of essential services and government administration, and complete the major on-going projects that will increase the productive capacity of the country.
Budget books and data
Budget book
This book contains the details of the forecasted budget.
Budget booklet
This booklet contains the summary of the budget proposed to the People’s Majlis
Budget speech
This is the speech given by the Minister of Finance to the People’s Majlis on the proposed budget.
Budget data
This is the budget tables in excel format.
AGA Office Budget
This is the details of the budgets of government offices, in excel format.
Budget Summary
Revenue
32,098
million rufiyaa

Government Revenue consists of Tax Revenue, Non-Tax Revenue and Grants.

Expenditure
40,558
million rufiyaa

Government Expenditure is composed of two main types of expenditures: Recurrent Expenditures (expeness incurred by the Government and providing public services) and Capital Expenditure (expenditure on infrastructure projects and capital items)

The Total Expenditure is calculated by deducting loan repayments and contribution to international finance institutions from the Total Budget.

Deficit
8,459
million rufiyaa

The Overall Budget Balance is the difference between Total Revenues and Grants, and Total Expenditures. The Overall Budget Balance is at a deficit due to higher Total Expenditures compared to Total Revenues and Grants. The Primary Budget Balance is the Overall Balance after deducting loan servicing costs.

Expenditure details
Health
5,017
million rufiyaa

The Budget 2023 includes a total of MVR 2,469 million for personal emoluments in the health sector. From this budget, MVR 995 million is allocated for medical consumables and supplies.

Economic Affairs
10,489
million rufiyaa

Most of the expenditure in this sector is allocated for economic diversification, labour affairs and the development of the private sector.

Education
4,625
million rufiyaa

The Budget 2023 allocates a total of MVR 857 million for tertiary education.

Housing and Community Amenities
2,820
million rufiyaa

Among this, the majority of expenditures are on housing and community development. Other expenditures allocated in this sector are for providing drinking water.

Social Protection
3,916
million rufiyaa

Expenditures on this function aim to promote an equitable society.

Environmental Protection
2,002
million rufiyaa

Expenditure on this function includes waste management, waste water management, pollution abatement, protection of biodiversity and landscape, among others. The largest component, among this, is sanitation in islands for which MVR 822.7 million is allocated for in the Budget 2023.

Defence, and Public Order and Safety
1,844
million rufiyaa

Most of the expenditure are on border control and public safety.

General Public Services and Recreation, Culture and Religion
7,577
million rufiyaa

The 2023 Budget allocates MVR 2,039 million on the provision of general public services. A total of MVR 1,816 million is allocated for executive and legislative organs, financial and fiscal affairs, and external affairs, while MVR 195 million is allocated for general public services.

MVR 958 million is allocated for recreation, culture, and religion in the 2023 Budget. MVR 431 million is allocated towards recreation and sporting services while MVR 370 million is allocated to religious and other community services.

A total of MVR 5,538 million is allocated in the 2022 Budget for debt services and amortization. Of this, MVR 2,101 million is allocated for debt repayments and MVR 3,437 million is allocated for interest payment and debt servicing.

Ministry of Finance
Ameenee Magu, Block 379, Male'
Republic of Maldives

Tel: 1617
Tel: +(960) 334 9200
Fax: +(960) 333 8034

E-mail: [email protected]