The previous administration signed MVR 39 billion worth of projects under the Construction Ministry alone, Minister Dr. Abdullah Muthalib has disclosed.
Responding to questions raised by MPs at today’s Parliament sitting, Minister Muthalib said these projects cannot be completed with any state budget, as the figure exceeds even the state’s annual revenue. He noted that several projects were signed and kicked off in 2023, but that these projects cannot progress as the project value far exceeds what the state can spend.
βWe donβt even get MVR 39 billion in revenue in a year,β Muthalib said.
Muthalib stated that the 2023 budget allocated a ‘piece’ to each island, but emphasized that the projects cannot proceed with such funding levels. The state budget of MVR 56.6 billion for next year, presented to the Parliament on October 31, was prepared in such a way that projects can be implemented within the government’s financial capacity, he said.
“We have structured the 2025 budget to ensure projects are implemented within an envelope, allowing us to execute them as opportunities arise,” he said.
