Deficit bumps to MVR 15 B with supplementary budget

Ministry of Finance has reported the state deficit is expected to increase to MVR 15 billion with the inclusion of the recently proposed MVR 6.5 billion supplementary budget.

According to the ministry's supplementary budget report, the budget deficit will observe the deficit-to-GDP ratio at 14 percent, while the previous deficit-to-GDP ratio was at 8.3 percent for the 2023 fiscal year.