Friday
26th Apr 2024
Dhivehi Edition
Finance Ministry statistics has shown that the state has, so far, received less than three percent of grant aid estimated for this year.
The financial status of the country was reissued this week, after a hiatus of three weeks.
In the latest edition, Finance Ministry said that by April 14th, the state had received MVR 78 million (US$ 5.05 million) as grant aid. This year, the budget forecast for grant aid was MVR 2.9 billion (US$ 187.6 million).
This amounts to 2.6 percent of the total amount listed as grant aid. With the first quarter of the year almost over, it is difficult to see how and when the rest of the pledged amount would be received.
Even for last year’s budget, the state had listed MVR 2.2 billion (US$ 142.4 million). Only MVR 1.1 billion (US$ 71.2 million) was received.
Speaking in the Budget Committee session, Central Bank Governor Ali Hashim had expressed his concern over the ever-widening gap between what the government had forecast and what was actually received.
Securing more grant aid is the primary excuse offered by President Ibrahim Mohamed Solih and Foreign Minister Abdullah Shahid on their multiple trips abroad.