Finance Ministry Seeks to Raise MVR 3 Billion via Domestic Market

Finance Minister Mohamed Shafeeq announced that MVR 3 billion of the supplementary budget will be raised from the domestic market, with the remainder covered through austerity and deferred revenue. The annual budget, including supplementary, exceeds MVR 49 billion. Of the MVR 6.5 billion added, MVR 6.1 billion must be borrowed. So far, MVR 1.2 billion of the MVR 1.9 billion targeted from domestic market has been collected and will be available early next month. Shafeeq noted the country's unhealthy financial situation and prioritised essential expenditure.

Finance Minister Mohamed Shafeeq announced that MVR 3 billion of the supplementary budget will be raised from the domestic market, with the remainder covered through austerity and deferred revenue. The annual budget, including supplementary, exceeds MVR 49 billion. Of the MVR 6.5 billion added, MVR 6.1 billion must be borrowed. So far, MVR 1.2 billion of the MVR 1.9 billion targeted from domestic market has been collected and will be available early next month. Shafeeq noted the country's unhealthy financial situation and prioritised essential expenditure.

Finance Minister Mohamed Shafeeq announced that MVR 3 billion of the supplementary budget will be raised from the domestic market, with the remainder covered through austerity and deferred revenue. The annual budget, including supplementary, exceeds MVR 49 billion. Of the MVR 6.5 billion added, MVR 6.1 billion must be borrowed. So far, MVR 1.2 billion of the MVR 1.9 billion targeted from domestic market has been collected and will be available early next month. Shafeeq noted the country's unhealthy financial situation and prioritised essential expenditure.

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