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The cabinet has held a working session to discuss the changes to be made to the State Budget 2020, in light of the effects of COVID-19.
The working session of the cabinet, held on June 30, was chaired by President Ibrahim Mohamed Solih. In addition to the proposed changes for State Budget 2020, the cabinet also discussed on reviewing the proposed mid-term budget for the fiscal year of 2021.
The session included a presentation by the Minister of Finance Ibrahim Ameer, regarding the economic impacts of COVID-19 and the proactive steps the country should take in order to help its economy recover and increase budgetary revenue. The presentation also covered the State Budget for 2021 and plans to raise the cost-effectiveness of state and government institutions.
During the session, President Solih outlined the major economic challenges confronting the country, and the major steps the government will take to resolve them, as the country continues to ease restrictive measures on businesses and social gatherings. He further stated the government will prioritise the needs of the public as it implements a new normal.