The Proposed State Budget for 2024 has allocated MVR 827 million to the Thila Male' Bridge Project, the biggest infrastructure project ever attempted in the country.
While the Finance Ministry submitted the proposed budget for next year to the Parliament today, it had allocated MVR 8.915 billion for economic and infrastructure development.
The budget stated that out of this MVR 2.4 billion has been set aside for Indirect Subsidies while another MVR 942 million has been allocated as capital for State-Owned enterprises.
It showed that the government has also allocated MVR 827 million for the Thila Male' Bridge project which will connect Male', Villimale, Thilafsuhi, and Gulheefalhu.
The budget stated that MVR 527 million has been assigned for the Gulheefalhu Port Development Project.
Meanwhile, the government has assigned a whopping MVR 1.05 billion to the Velaana International Development project which would see the country's main international airport get a facelift with a new terminal.
The government has also allocated MVR 462 for other airport development projects across the country. The incumbent government has also allocated MVR 281 million for renewable energy projects
