Budget Committee proposes a MVR 17.96 billion state budget
26 Dec 2013, 10:58 PM
Zaheena Rasheed
The People’s Majlis Budget Committee has increased the proposed budget for 2014 to MVR17.96 billion (US$1.16 billion).
The committee added MVR432 million (US$ 28 million) to the MVR17.5 billion budget (US$ 1.1 billion) proposed by the Ministry of Finance and Treasury.
The addition includes MVR260.5 million (US$ 16.9 million) for Public Sector Investment Programmes (PSIP) and a MVR171.1 million (US$11 million) increase to the budget of independent institutions.
The budget deficit now stands at MVR1.3 billion (US$84.3 million). Recurrent expenditure accounts for over 70 percent of the budget.
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