Govt seeking to approve MVR 1.7 bill supplementary budget

The government is seeking to approve a supplementary budget of MVR 1.7 billion, it has been reported.

Finance Ministry had previously stated that while a budget of MVR 30.2 billion was approved for the current year by the parliament, it poses challenges to implementing some policies of the new administration.

The ministry has confirmed that a supplementary budget was submitted for parliament approval on Wednesday.

Statistics show the government has utilized MVR 13.2 billion from the budget thus far this year. MVR 1.9 billion was received as foreign assistance in the last eight months.

Speaker of the Parliament, Mohamed Nasheed has decided to conclude research on the proposed budget by the end of the day, and approve the budget during Monday night's sitting.