Government suspends new development projects due to budget constraints
21 Apr 2013, 6:19 PM
The government has decided to delay implementation of new development projects financed out of the state budget due to shortfalls in revenue, Finance Minister Abdulla Jihad confirmed to Minivan News today.
Jihad said that the cabinet decided to postpone planned infrastructure projects that have not yet started in an attempt to ease cash flows rather than deducting a specific amount from the development budget.
“We are in the process of [drawing up a supplementary budget]. Hopefully by the end of the month we will have something,” he said.
The decision to suspend new projects was revealed by Housing Minister Dr Mohamed Muiz today following the signing of contracts to build harbours in four islands.
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