Ministry of Finance revealed on Monday that the proposed budget for 2020 will be submitted to the parliament on Thursday.
The Ministry stated that work is underway to compile the budget book, adding that it was progressing swiftly.
Finance Ministry also revealed that budgets have been allocated for all ministries and that they are currently working on bringing minor amendments.
As per the fiscal strategy sent by the Finance Ministry to the parliament in July, the predicted budget for 2020 is MVR 39.6 billion.
Chief Financial Budget Executive of Finance Ministry Ahmed Saruvash said that the proposed budget would be based on the fiscal strategy report. He added that there might be discrepancies in the figures presented in the report and the budget submitted to parliament.
The government had proposed MVR 31.9 billion as the budget for 2019. Finance Ministry estimated that they will achieve 80 percent of the budget by the end of the year.
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