Finance Minister Mohamed Shafeeq said MVR 3 billion of this year's supplementary budget will be raised from the domestic market, with the rest covered through austerity and deferred revenue expenditure. Of the MVR 6.5 billion added to the budget, MVR 6.1 billion has to be borrowed, and MVR 1.2 billion of the MVR 1.9 billion targeted from the domestic market has been collected.
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the country's finances will improve through current administration efforts
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Minster of Finance Mohamed Shafeeq has said that MVR 3 billion of the supplementary budget for this year will be raised from the domestic market and the rest will be covered through austerity and deferred revenue expenditure.
Word for word from the report in Maldives Republic. Open the report
The annual budget, including the supplementary budget, exceeds MVR 49 billion.
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Of the MVR 6.5 billion added to the budget, MVR 6.1 billion has to be borrowed.
Word for word from the report in Maldives Republic. Open the report
Of the MVR 6.5 billion added to the budget, MVR 6.1 billion has to be borrowed.
Word for word from the report in Maldives Republic. Open the report
The administration will now look towards funding the bulk of the budget by selling securities in the domestic market with MVR 200 million raised from an external loan, Shafeeq said while speaking with local media.
Word for word from the report in Maldives Republic. Open the report
So far, MVR 1.2 billion out of the budgeted MVR 1.9 billion, targeted from the domestic market, has been collected and will be available early next month, or mid-next month at the latest, with administration spending limited to only what is necessary, the Minister said.
Word for word from the report in Maldives Republic. Open the report
So far, MVR 1.2 billion out of the budgeted MVR 1.9 billion, targeted from the domestic market, has been collected and will be available early next month, or mid-next month at the latest, with administration spending limited to only what is necessary, the Minister said.
Word for word from the report in Maldives Republic. Open the report
