All eyes will be on the Minister for Economy – Aiyaz Sayed-Khaiyum this evening, when he will deliver the “2019-2020 National Budget”.
After months of consultations with various stakeholders and government ministries, the Minister for Economy is expected to deliver a budget, that will take into account areas that need development, and also look at policies, that will benefit the country.
Government Ministries like the Education, Health, Infrastructure, Housing and Social Welfare ministries – are expected to receive a huge allocation like in the past.
In a session with the media – the Minister for Economy highlighted that in revenue policies, they will try to maintain consistency in tax regimes, continue to streamline taxation, and customs administrative processes, and further tighten compliance and improve revenue collection, by clamping down on tax evaders and tax cheats.
The Expenditure policy will ensure adequate funding is provided for infrastructure development, continued funding towards provisions of clean water and access to electricity, target investment in education, skills development and further improving medical services, and support SME development, self help initiatives, and young entrepreneurs.
The Minister for Economy – Aiyaz Sayed-Khaiyum will deliver the “2019/2020 National Budget Address” at 7.30pm tonight.