A supplementary budget of MVR 5.1 billion has been submitted to the People’s Majlis.
The current administration submitted the MVR 5.1-billion supplementary budget, claiming that it was to cover state expenses. This was done after the government failed to proceed with major projects, halted PSIP projects, and not failed to disclose how the 2024 state budget was spent.
The supplementary budget adds up to MVR 5,119,508,129.
Out of the MVR 5.1 billion budget Minister of Finance Moosa Zameer submitted at Thursday’s parliamentary sitting, MVR 1.5 billion has been earmarked for recurrent expenditure and MVR 3.5 billion for capital expenditure.
With this, the total budget for this year will reach MVR 55 billion.
The initially approved budget for this year was MVR 49.8 billion.
Presenting the budget, Zameer said that out of the MVR 1.5 billion included as recurrent expenditure, the expenses are for salaries, medical supplies, medical aid, and subsidies.
- MVR 24.4 million for salaries
- MVR 200 million for medical supplies
- MVR one billion for subsidies
- MVR 262.6 million for medical aid
The budget includes MVR 3.6 billion as capital expenditure.
- MVR two billion for land reclamation, construction, and infrastructure
- MVR 441 million for capital contribution
- MVR 650 million for contingency
- MVR 458.4 million for student loans
The deficit of the supplementary budget is MVR four billion.
This means that this year's total budget deficit is MVR 18 billion.
Thursday’s parliamentary sitting will continue until the supplementary budget debate concludes.
The proposal to continue the session until the end of the debate on the MVR 5.1 billion supplementary budget submitted by the government was made by Ibrahim Falah, MP for Inguraidhoo constituency. The proposal was backed by Ibrahim Shujau, MP for Baarah constituency, and Ibrahim Nazil, Member for South Hithadhoo constituency.
To expedite the process of passing the supplementary budget, it was decided to conclude the debate during Thursday's sitting, send it to the Budget Review Committee, and complete the committee's work within a day.
MP Falah proposed to continue the parliamentary sitting from 1:30pm, giving each lawmaker who wishes to participate in the budget debate five minutes, and conclude the debate later on Thursday. The lawmaker also proposed to allow two minutes for each lawmaker to debate on the committee report in the session held after receiving the report.
Falah's proposal was passed with the votes of 69 members present at the parliament chamber.
