Finance Minister Moosa Zameer has stated that a supplementary budget of MVR 5 billion will be proposed to the parliament, to manage the cashflow of the government for the remainder of the year.

Zameer told a news conference at the President's Office today that more than MVR 2 billion has not been recorded in the Finance Ministry's system after being spent from the state budget last year. As a result, this year's budget has to accommodate a total of MVR 2.5 billion in bills requested to be posted last year and earlier years, he said.

Zameer said a supplementary budget is currently being submitted to meet the figures.

"Instead of putting a supplementary budget with next year's budget, we will prepare a supplementary budget for the additional expenditure in a transparent manner and carry out all the required work," Zameer said.

Zameer said the supplementary budget is expected to be around MVR 5 billion but the exact amount will be decided after discussions. The parliament passed a budget of MVR 49.8 billion for the current year.