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Item Medium-term fiscal strategy 2021-2023(Ministry of Finance and Treasury, 2020-07-31) Ministry of Finance and Treasury; މިނިސްޓްރީ އޮފް ފިނޭންސް އެންޑް ޓްރެޜަރީThe Fiscal Responsibility Act (Law Number 7/2013) Chapter 10 requires the Government to submit a Medium-Term Fiscal Strategy Statement to the Public Accounts Committee of the People’s Majlis. This Fiscal Strategy is presented at a time when unprecedented changes are occurring to the Maldivian economy and the financial position of the country. To account for the present circumstances, the direction of fiscal policy must be changed. As such, this Fiscal Strategy focuses on formulating sustainable medium-term policies that will assist in economic recovery. This will also be the basis on which the annual budget 2021 and medium-term budgets are formulated. This statement includes a comparison of the previous Fiscal Strategy and the approved 2020 budget, the revised estimates for the 2020 budget to reflect current circumstances, and medium-term fiscal policy goals and policy implementation. The paper also outlines proposed changes to the revenue and expenditure structure based on medium-term fiscal balance and debt sustainability, and the fiscal space (budget available for new policy initiatives). This Fiscal Strategy is based on the “Medium-Term Fiscal Framework” and baseline budget estimates for revenue and expenditure estimations.Item Medium Term Fiscal Strategy 2022-2024(Medium Term Fiscal Strategy 2022-2024, 2021-07-31) Ministry of Finance and TreasuryThis is a statement submitted to the Public Accounts Committee of the People’s Majlis, as required by Fiscal Responsibility Law (No. 7/2013), disclosing the Medium-Term Fiscal Strategy of the Government. The Medium-Term Fiscal Strategy 2022-2024 focuses on recovering from the economic and fiscal impact of the Covid-19 pandemic and establishing a sustainable fiscal policy for the medium-term. The Government Annual Budget for the year 2022 and the medium-term will be formulated based on this Strategy. This statement includes an analysis on the difference between the previous Fiscal Strategies and the 2021 Approved Budget and revisions for 2021 that reflects the current situation. This is followed by information on the medium-term fiscal policy goals and the strategies for achieving these goals. Based on the medium-term goals for budget balance and debt, the strategy will identify the changes to revenue and expenditure required to meet these goals and fiscal space available for the New Policy Initiatives (NPI) - new programs and projects of the Government. This Strategy is based on “Medium-term Fiscal Framework” and baseline estimates of income and expenditure by the Ministry of Finance.