Supplementary budget of MVR 5.8 billion approved by Budget Committee

Parliament's Budget Committee has approved the supplementary budget of MVR 5.8 billion proposed by Finance Ministry.

The supplementary budget will be in addition to the MVR 42.6 billion budget approved for 2023.

Finance Minister Ibrahim Ameer proposed the budget for 2023, stating that the budget will go up to MVR 42.8 billion. Minister Ameer said this is due to the oil subsidy by the Government due to the increase in global fuel prices as well as the resumption of the Government projects that were halted due to the pandemic. As such, Minister Ameer recommended the 2023 budget will require an increase.

The Budget Committee approved the supplementary budget of MVR 5,847,881,300. The supplementary budget was also added to the Budget Committee recommendation.