Minister of Finance Ibrahim Ameer has stated the government seeks to solve longstanding problems with the proposed state budget for 2022.
Speaking to PSM News, Minister Ameer said the proposed state budget is hopeful even when looking at the funds allocated for Public Sector Investment Programmes (PSIP). The minister said the government aims to develop infrastructure and human resources as well as solve longstanding problems in the country next year.
He also said the government has focused on developing the atolls since 2019 with PSIP projects currently ongoing in the islands. He highlighted the government has allocated more funds for education and health for next year.
Furthermore, Minister Ameer responded to questions regarding the number of projects under PSIP for next year by saying the government takes into account the maintenance of the budget deficit and debt. The minister said the government had to accept loans to continue its work due to the financial strains following the COVID-19 pandemic. The minister assured the government will proceed with the PSIP projects proposed in the state budget. He also said the state lost USD 2.3 billion in revenue due to the COVID-19 pandemic but that the government has taken successful steps to overcome the crisis.
He said the proposed state budget for 2022 will further assist in national economic recovery. He also noted that the country's credit rating and national outlook has been upgraded due to the successful efforts of the government.