Parliamentary Committee on Budget has approved the supplementary budget as proposed by the government.
The Parliamentary Committee on Budget formed by members from Parliamentary Committee on Finance and Parliamentary Committee on Economic Affairs approved an additional USD 110 million to be included in the state budget for 2019. The committee made decision following deliberations held with officials from Ministry of Finance, Maldives Monetary Authority and Auditor General's Office.
The President's Office said a supplementary budget was proposed to bring necessary administrative changes to add foreign aid to the country to the state budget.
The parliament passed a state budget of USD 1.949 billion for 2019. When the supplementary budget is approved, the state budget will amount to USD 2.059 billion and the budget deficit will increase to USD 316 million, according to the letter sent by the finance minister to the committee.
So far, the administration has spent USD 852 million from the state budget and has received over USD 122 million as foreign aid during the first half of the year.