The state debt will be at MVR 43 billion by the end of 2017, says Finance Minister Ahmed Munawwar.

In the Parliament sitting on November 8, 2016, Minister had said the budget debt will be at MVR 36.9 billion by the end of 2017. Hence, the budget debt had risen by MVR 6.1 billion this year.

Based on the current projections and taking into account 2014 population of 341, 256, next year’s debt per head is at MVR 126,005.

Speaking in the Parliament Minister Munawwar said MVR 4.3 billion will be spent on paying back debts.

A projection of MVR 22.4 billion is set as expected earnings and public-sector investment programs. But, it is also expected that MVR 24.9 billion will be spent by the state.