Rf11.9 billion budget proposed to parliament
25 Nov 2009, 9:06 AM
A Rf11.9 billion (US$926 million) projected mid-term budget for 2010 with a Rf4 billion (US$357 million) deficit was proposed to parliament by Finance Minister Ali Hashim today.
Presenting the budget, Hashim said unlike previous budgets, the International Monetary Fund (IMF) has confidence that next year’s budget could be implemented.
With government revenue projected at Rf7.3 billion (US$568 million), he said, the deficit for 2010 will be Rf4.6 billion (US$357 million).
“To plug this deficit, we have proposed estimated foreign aid of Rf1 billion (US$77 million) for the various projects in the budget, an estimated Rf384 million (US$29 million) from foreign loan assistance, an estimated Rf1.3 billion (US$101 million) from privatising government companies and an estimated Rf1.9 billion (US$147 million) from selling treasury bills through the MMA [Maldives Monetary Authority],†he said.
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