The Ministry of Finance said cash flow will not be affected by the halt to debt monetisation if the government receives the dues and revenue forecast in the 2024 National Budget. The Muizzu administration decided not to extend the pandemic-era practice of overdrawing from public accounts, which had allowed borrowing of MVR 4.4 billion from the central bank.
One outlet so far Only Maldives Republic has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
It is a deficit budget so the budget is being financed by borrowing. If we are getting debt inflows and revenue, it will not be difficult to manage cash flow
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allowing the government to borrow MVR 4.4 billion from the central bank till the end of 2023.
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The Solih administration had overdrawn MVR 8.2 billion overt the past three years, mainly to meet the government’s cash flow.
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since the MVR 2 billion ceiling had been reached, there was no space to utilise the overdraft facility.
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The Parliament has approved a budget of MVR 49.8 billion for 2024, adding MVR 300 million to the proposed budget.
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The Parliament has approved a budget of MVR 49.8 billion for 2024, adding MVR 300 million to the proposed budget.
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With revenue expected to be MVR 33.5 billion, the deficit of MVR 16.3 billion will be financed by borrowing from internal and external sources
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With revenue expected to be MVR 33.5 billion, the deficit of MVR 16.3 billion will be financed by borrowing from internal and external sources — this includes borrowing MVR 10.4 billion from external sources with the rest to be financed by internal debt.
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this includes borrowing MVR 10.4 billion from external sources with the rest to be financed by internal debt.
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Similarly, a supplementary budget of MVR 42.8 billion was submitted to Parliament towards the end of 2023.
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The Parliament has approved a budget of MVR 49.8 billion for 2024, adding MVR 300 million to the proposed budget.
Word for word from the report in Maldives Republic. Open the report
