Gov’t Announces Announces Plans for Supplementary Budget Proposal

Minister of Finance Moosa Zameer announced that the government is actively working on a supplementary budget proposal to address the financial needs for the remainder of the year.

Speaking at a press conference held at the President’s Office alongside Attorney General Ahmed Usham, Minister Zameer disclosed that over MVR 2 billion spent from the State budget last year was not recorded in the Finance Ministry’s accounts. This discrepancy has led to bills totalling MVR 2.5 billion, submitted for posting over the past two years, needing to be accommodated in this year’s budget.

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Zameer further noted that similar unaccounted bills might exist across various other ministries, with investigations currently ongoing in collaboration with the Auditor General’s Office.

Once the issue is fully addressed, the Ministry will submit a request for a supplementary budget. “The final amount will be determined after consulting the cabinet and seeking advice from President Dr Mohamed Muizzu, as well as after receiving the Auditor General’s report,” Zameer stated.

The parliament had previously approved a State budget of MVR 49.8 billion for the current fiscal year. However, during a Public Accounts Committee session earlier this year, the Finance Ministry indicated that, based on spending trends, the budget could approach MVR 58 billion.