MVR 15.3 billion state budget might not last until end of next year: Finance Minister
30 Dec 2012, 8:07 PM
Luke Powell
Finance Minister Abdulla Jihad has claimed that the MVR 15.3 billion (US$992 million) state budget approved by parliament this week might not last until the end of 2013 – requiring supplementary finance for the state.
Parliament reduced Jihad’s proposed budget of MVR 16.9 billion (US$1 billion) by more than MVR 1 billion (US$64.8) before passing it on Thursday (December 27).
Jihad told local media today that a supplementary budget may have to be implemented at some point next year should the funds allocated by parliament not be enough to cover expenses.
Dhivehi Rayyithunge Party (DRP) MP Dr Abdulla Mausoom today told Minivan News that concerns expressed by Jihad concerning the budget were “reasonable” given that the Finance Minister had originally requested a larger figure to see out state spending for the year.
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