President Dr Mohamed Waheed has today ratified the Fiscal Responsibility Bill, which was passed by the People’s Majlis on April 15, 2013. Following ratification, the bill has been published in the Government Gazette.
The Act ensures accountable, transparent and sustainable government implementation of the state fiscal policy.
The President has also by Decree, declared that implementation of Sections10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,32,33 and 34 of the Fiscal Responsibility Act requires establishment of specific systems or rules, and therefore to delay the implementation of those sections till May6, 2014.