Minister of Finance Moosa Zameer has announced that work is underway to submit a supplementary budget to Parliament. He made this statement during a press conference addressing challenges in public expenditure management.
In his remarks, Minister Zameer noted that the government is facing cash flow issues and difficulties in managing expenditures. He emphasized that, as in previous years, a supplementary budget is essential to cover the state’s financial obligations.
The minister highlighted that the budget is being prepared with a focus on cost minimization. He mentioned that while the supplementary budget could potentially reach USD 651 million without spending cuts, proactive measures from the President should help prevent this.
The government has projected a supplementary budget of USD 325.7 million, although the exact figure has yet to be confirmed as assessments are ongoing. This proposal marks a decrease from last year’s supplementary budget of USD 423 million.
In recent years, a supplementary budget has been submitted annually, as the initial state budget often falls short of covering all expenditures. This year, Parliament passed a budget of USD 3.2 billion.