Finance Minister Moosa Zameer has announced plans to present a supplementary budget of MVR 5 billion to Parliament this year.
The Parliament has approved a budget of MVR 49.8 billion for this year.
Speaking to reporters on Saturday at a press conference held at the President's Office, Minister Zameer said that the final amount for the supplementary budget would be determined after discussions within the Cabinet, before submitting the proposal.
Zameer noted that the additional budget is necessary due to some projects exceeding their allocated funds, while other tasks that should have been completed under last year’s budget require extra funding from this year’s budget.
Minister Zameer added that the government's debt this year will be lower than previously forecast as a result of the measures being taken by the President to reduce government expenditure.
Speaking to reporters at the same press conference, Attorney General Ahmed Usham said supplementary budgets were approved every year during the last MDP government. However, the budgets were submitted in violation of the Constitution and laws, he said, as the government had already spent the proposed supplementary funds before obtaining the necessary approval from the Parliament. As per legal requirements, the funds cannot be spent without first approving the budget, he noted.
Finance Minister Moosa Zameer
