Finance Ministry shuts down 2013 budget
24 Dec 2013, 1:27 PM
Zaheena Rasheed
The Ministry of Finance and Treasury has shut down all state expenditure except for salaries.
A circular sent to all government offices yesterday said the annual budget for 2013 has been “shut down” starting today.
“However, once all the expenses for staff salaries are arranged for, and if the budget allows for it, we will settle absolutely necessary expenses through the 2013 budget,” Minister of Finance and Treasury Abdulla Jihad said.
The parliament had passed a MVR 15.3 billion (US$ 992 million) state budget for 2013. According to the MMA, despite a higher than expected increase in income from taxation, the deficit for 2013 is expected to rise to MVR 1.7 billion (US$ 107 million) or 5 percent of GDP.
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