Parliamentary Budget Committee Approves USD 3.2 Billion State Budget for 2024 

The parliamentary budget committee unanimously approved the proposed state budget for 2024, increasing it by an additional USD 20 million. The initial budget of USD 3.2 billion received unanimous support from committee members.

Before approval, the committee introduced amendments to the budget, resulting in a USD 20 million increment. Adjustments included both a decrease in funding for certain projects and an increase in funding for others. Notably, the committee cut the allocated USD 26 million for the Fushidhiggaru Falhu reclamation project, redistributing the amount to other projects.

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President Dr Mohamed Muizzu, as part of his commitment to ensuring housing for all citizens, had pledged to complete the Fushidhiggaru project. The initiative involves reclaiming 1,280 hectares in Fushidhiggaru Falhu and allocating 11,000 land plots and 26,000 flats connected by a bridge and high-speed ferry service.

The Fushidhiggaru project is President Muizzu’s key strategy to address the housing crisis in the Greater Male’ Region, with a commitment to initiating reclamation within his first 100 days in office.

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