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2016 State Budget

MPs grill ministers over ‘unrealistic’ revenue targets

MPs on the parliament’s budget review committee questioned ministers today about targets in the 2016 budget after revenue this year fell far short of forecasts.

15 Nov 2015, 9:00 AM

Politics

Finance minister submits record MVR27bn budget for 2016

While MVR21.5 billion was expected in revenue this year, Finance Minister Abdullla Jihad said the government will only have earned MVR17.7 billion by the end of the year. The forecast deficit was MVR1.3 billion, but the figure is likely to reach MVR3.6 billion or 6.9 percent of GDP.

12 Nov 2015, 9:00 AM

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