The government has proposed a supplementary budget of MVR 5.19 billion for this year's annual state budget.
The parliament approved a budget of MVR 50 billion for this year and the supplementary budget would take the total budget to MVR 55 billion.
Presenting the supplementary budget in Parliament today, Finance Minister Mossa Zameer said the budget would be financed through project loans, loans from locals, and the sale of T-bills.
He detailed that the budget would be financed by taking loans worth MVR 1 billion from foreign lenders and MVR 3 billion from local lenders.
Zameer said the supplementary budget will receive MVR 34 billion in revenue and grants. He also said that the total deficit of the supplementary budget is MVR 4 billion, adding that this year's budget deficit will increase to MVR 18 billion.
