Nasheed: Unable to understand inclusion of supplementary budget for this year in 2023’s budget

Parliament Speaker, former President Mohamed Nasheed, on Tuesday, remarked he is unable to understand how this year’s supplementary budget is included in the project state budget for 2023.

Finance Minister Ibrahim Ameer presented an MVR 42.7 billion budget for 2023 to the Parliament on Monday – an increase by MVR 5.8 billion compared to the budget approved for this year.

The projected budget for next year includes a supplementary budget for the remaining portion of this year, in case additional funds are required. However, the exact allocation for the supplementary budget has not been disclosed.

Speaking whilst opening Monday’s parliamentary sitting – Speaker Nasheed underscored that if parliamentary approval is sought for additional funds to the state budget, the request must be submitted through a motion to the Parliament, one month prior to when the funds are required, as dictated in the Public Finance Act.

“Whilst Finance Minister has expressed the need for additional MVR 5.8 billion to the budget approved by People’s Majlis for 2022, and included the same in the projected state budget for 2023 – I am unable to understand why a supplementary budget required for 2022 is included in that budget as of present,” he had said.

Stating that it is unlikely MVR 5.8 billion in additional funds will be incurred in November and December – Nasheed said that the amount which has been spent without parliament’s approval from the additional funds remain unclear.