Finance Ministry has confirmed the projected budget for 2018 will be sent to parliament floor for deliberation on Tuesday.
While parliament is set to receive the forecast budget plans for next year, the current year's initial budget was at MVR 26.8 billion. However running into insufficiency led to Finance Ministry presenting a supplementary budget of MVR 493 million to parliament which had thus been approved.
The supplementary budget had MVR 300 million allocated for government health insurance scheme while another MVR 26 million was apportioned for the planned by-election announced by Elections Commission on six constituencies.
Finance Ministry has expected the state to receive an income of MVR 21.9 billion through 2017, out of which MVR 14.1 billion is collected through various taxes levied. Non-tax income was projected at MVR 4.8 billion and another MVR 878 million in grants.
Budget deficit was estimated at MVR 303.7 million.
