2026 budget to be reviewed by November 19, Saleem appointed committee chair

The Budget Review Committee of the People’s Majlis has set November 19 as the target date to complete scrutiny of the government’s proposed 2026 budget, which totals MVR 64.2 billion.

MP for Eydhafushi constituency Ahmed Saleem has been appointed Chair of the committee, while MP for Central Fuvahmulah constituency Ali Fazaad will serve as Deputy Chair, following a majority vote of committee members.

The 22-member panel comprises representatives from both the Parliament’s Public Finance Committee and Economic Committee, with 18 members attending the committee’s inaugural meeting on Thursday.

The review process will follow the procedures used in previous years, including summoning officials from the Maldives Monetary Authority (MMA), the Finance Ministry, the Auditor General’s office and other relevant institutions to provide input and clarification.

Minister of Finance and Planning Moosa Zameer presented the proposed budget on October 31, allocating MVR 39.9 billion to recurrent expenditures. Total projected state revenue and aid for 2026 is estimated at MVR 40.4 billion, including MVR 31.3 billion from taxes and MVR 8.7 billion from non-tax sources. The budget deficit is projected at MVR 8.8 billion, equivalent to 7.1 percent of GDP.

Despite the formal review process and consultations with stakeholders, the current parliamentary dynamics suggest that the outcome is likely to reflect the administration’s priorities. Observers note that the final approval is expected to align closely with Muizzu’s preferences, raising concerns about the committee’s independence and the effectiveness of the review process in providing meaningful checks on government spending.