Cashflow details to be submitted at parliament by end of year

Finance Ministry has instructed the state entities to submit annual cash flow details of the current year's budget by December 23.

A circular sent by Finance Ministry said budget disbursement tables have to be submitted to the parliament as per the Fiscal Responsibility Act by December 31.

Therefore, the annual cash flow details must be submitted to Finance Ministry by all ministries before the deadline, and the relevant ministry's budget for January will be disbursed to the ministries only after the details are submitted, said Finance Ministry.

"The budget for 2020 will be disbursed monthly as per the disbursement plan submitted to the parliament," said the ministry.

The parliament approved a record budget of MVR 37 billion for the upcoming year. The current year's budget is MVR 30 billion.