MMA releases MVR 4 Billion to the government

Maldives Monetary Authority has released MVR 4 billion to the government.

MMA has led the government more than its actual amount of funds in the account which would increase the cash flow circulation in the economy.

Statistics published by the MMA for the month of July shows that it had released MVR 4 billion to the govern by July 29. The government had already collected MVR 3.5 billion in advance by the end of June.

MMA released the funds after the parliament permitted the following after the Finance Minister Ibrahim Ameer requested the following to stabilize the government spending. This the first time a government spending has gone up after such an economic crisis hit due to COVID-19.

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