The Edition


Finance Ministry submits supplementary budget to Parliament

Mariyam Malsa
21 August 2019, MVT 14:01
Minister of Finance Ibrahim Ameer. PHOTO: NISHAN ALI/ MIHAARU
Mariyam Malsa
21 August 2019, MVT 14:01

The Ministry of Finance, on Wednesday, submitted a supplementary budget to the parliament.

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 that the budget consists of previously planned projects.

Minister Ameer guaranteed that no difficulties were present in managing the government's cash flow despite the submission of a supplementary budget, as the state received a larger amount of financial assistance than previously estimated.

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

The parliament passed an MVR 30.2 billion state budget for 2019, out of which MVR 14.7 billion was utilized. The state recorded a figure of MVR 14.5 billion as National Income so far.