Minister of Finance and Planning Moosa Zameer has revealed that the technical phase of the draft state budget for the upcoming fiscal year has been completed, with final preparations now underway ahead of its presentation to Parliament.
Speaking to state media in Guraidhoo, Thaa Atoll, Minister Zameer said the budget process is proceeding according to schedule. The initial draft was prepared following extensive consultations with ministries and government offices, culminating in technical completion by the Fiscal Affairs Department of the Ministry and the Policy Office of the President’s Office.
He explained that after submission to the President, the final phase will begin with the involvement of relevant agencies before the budget is filed with Parliament. By law, the state budget must be submitted two months before the end of the fiscal year to allow for debate and committee review before approval.
Although the government has not yet disclosed the projected total expenditure, Minister Zameer confirmed that the upcoming budget will prioritise the Maldives 2.0 initiative. The new budget will encompass recurrent expenditures, capital infrastructure spending, debt repayments, and revenue estimates, reflecting a shift from the current year’s fiscal approach.
For 2025, the government approved a budget of MVR 56.6 billion, which was heavily focused on debt repayments under austerity measures. Minister Zameer said the coming years will instead emphasise major infrastructure and housing development, while avoiding undue pressure on the public or the wider economy.
