Finance Ministry calls to limit expenses within the budget

Ministry of Finance and Treasury has called on to all government offices to limit the expenses of the offices, within the allocated budgets for each office.

In a statement released by the Ministry, it was advised to all offices that all offices are to act in compliance with the “Circular for division of the state budget and transfer of funds from one part to another part of the budget” passed by the Parliament of Maldives.

Part 5 of the circular states that all offices shall limit their expenses to the budget allocated to the office as passed by the parliament. It further states that any expenses exceeding the limit as contingency should be approved by the Ministry of Finance and Treasury, and should be no more than 5 percent of the total budget of the office.

The said circular was formulated by the ministry in order to direct the government offices as per the finance policies of the state and to encourage offices to spend within the allocation.