The Finance Ministry has requested a supplementary budget of MVR 2.24 billion for the remainder of the year.
The Parliament approved a total budget of MVR 34.9 billion for the current year. The Finance Ministry at the time anticipated a revenue of MVR 21 billion, including grants. However, the revenue generated thus far this year is not even close to the previously expected amount. Expenditure also increased due to the COVID-19 pandemic, and the government's current spending has already exceeded MVR 20 billion.
The Finance Minister, Ibrahim Ameer, submitted the MVR 2.24 billion supplementary budget to the Parliament along with the proposed budget for the upcoming year, deeming the current budget as insufficient for the rest of the year. If the budget is approved, it will increase the total budget for the year to MVR 37.1 billion.
The Parliament is currently debating the proposed MVR 36.9 billion budget for next year.
