Government proposes budget of MVR 59.7 billion for next year
29 އޮކްޓޯބަރު 2026 | ބުރާސްފަތި 10:54The Minister of Finance has submitted a projected budget of MVR 59.7 billion for 2027 to Parliament, with a significant portion allocated to recurrent expenditure. Total revenue for the period is estimated to reach MVR 43.2 billion.
The government has submitted a budget of MVR 59.7 billion for 2027 to the People's Majlis, aimed at achieving the administration's strategic targets. | raajje tv
The government has submitted a budget of MVR 59.7 billion to the People’s Majlis for the year 2027, aimed at achieving its established strategic targets.
Presenting the national budget during Thursday's parliamentary sitting, Finance Minister Hassan Zareer announced that the government has proposed a budget of MVR 59,704,440,795 (fifty-nine billion, seven hundred four million, four hundred forty thousand, seven hundred ninety-five) for 2025, aimed at achieving the administration's key targets by 2027.
The Minister stated that this figure represents a decrease of 4.5 billion Rufiyaa compared to the budget approved for 2026.
The Minister stated that the total state expenditure within the proposed budget is estimated at MVR 52.6 billion. Of this total, MVR 42.7 billion is allocated for recurrent or operational expenditure, while MVR 9.9 billion has been earmarked for capital expenditure, which includes development projects and investments.
Minister Zareer stated that the capital expenditure includes MVR 8.2 billion allocated for Public Sector Investment Program (PSIP) projects.
The Minister stated that the state is projected to receive MVR 43.2 billion in revenue and grants next year, according to the budget estimates. The Minister noted that this figure represents an increase compared to the previous year.
The Minister noted that the proposed budget for 2027 includes the necessary funding to sustain public services and carry out the government's planned development projects.
Prior to the approval of the budget by the People's Majlis, parliamentary committees will review and deliberate on the proposal, submitting necessary amendments to finalize the document. Once passed, the implementation of the budget is scheduled to commence in January of next year.
