The Edition


Parliament to review MVR 1.7 billion supplementary budget

Fathmath Shaahunaz
25 August 2019, MVT 12:18
The budget book for the 2019 State Budget. FILE PHOTO/MIHAARU
Fathmath Shaahunaz
25 August 2019, MVT 12:18

The parliament on Sunday forwarded the supplementary budget of MVR 1.7 billion, proposed by Minister of Finance Ibrahim Ameer, to the floor for debate.

The state budget for 2019 would increase to MVR 31.9 billion should the supplementary budget be approved, while the overall deficit would increase to MVR 4.9 billion.

Speaker of Parliament and former president, Mohamed Nasheed, requested lawmakers to review the supplementary budget through Sunday as he intended for the parliament to reach a decision by Monday night. He noted that amendments may be submitted to the budget until then.

The supplementary budget was proposed after the state's compensatory payments, including court-ordered fees, exceeded the contingency allocation. It is intended to ensure the continuation of projects included in the ruling government's manifesto.

Minister of Finance Ibrahim Ameer revealed to local media Mihaaru earlier that the budget consists of previously planned projects.

To date, the government has secured MVR 1.9 billion in foreign aid.

The parliament passed MVR 30.2 billion as the state budget for 2019, out of which MVR 14.7 billion has been utilized. The state recorded a figure of MVR 14.5 billion as revenue so far.