The Maldives Parliament has approved the supplementary budget of MVR 5.1 billion
Finance Minister Moosa Zameer presented the budget to Parliament last Thursday, which was subsequently reviewed and approved by the Budget Committee. During Tuesday’s session, the budget passed with 75 members in favor and 11 opposed.
Supplementary budget allocations:
PSIP – MVR 2 billion
Subsidies (oil, staple foods, electricity, sewerage and water services) – MVR 1 billion
Contingency budget – MVR 650 million
Student loans – MVR 458 million
Government-owned companies – MVR 441 million
NSPA – MVR 263 million
Medical consumables – MVR 200 million
Salaries – MVR 24 million
The addition of the supplementary budget to the MVR 49.5 billion approved budget for this year brings the total budget for the current year to MVR 55 billion. With this increase, the budget deficit will increase from MVR 16.3 billion to MVR 18.4 billion.
Following the change, projected revenue for the year stands at MVR 36.4 billion, while recurrent expenditure is estimated at MVR 36.3 billion. Capital expenditure is set to reach MVR 19 billion, and total budget financing will amount to MVR 19 billion.
