In a presentation to Parliament today, Finance Minister Moosa Zameer unveiled a proposed national budget of MVR 56.6 billion for upcoming year, detailing anticipated revenues, expenditures, and major allocations aimed at addressing key national priorities, including housing and infrastructure.
According to the budget outline, the government expects MVR 39.8 billion in revenue and grants for the coming year, with MVR 2.6 billion anticipated as free aid from international partners and organizations.
The proposed expenditure stands at MVR 49.2 billion, with a substantial portion — MVR 35.9 billion — designated for recurrent expenses, which cover government operational costs and public service functions. Meanwhile, MVR 13.3 billion is allocated for capital expenditure, directed toward projects intended to stimulate economic growth and development across the Maldives.
With projected revenues falling short of total expenditures, the budget reflects an anticipated deficit of MVR 9.4 billion. Minister Moosa Zameer noted that strategic financing measures will be essential in addressing the deficit while maintaining commitments to essential services and developmental projects.
One of the budget’s highest priorities is housing, with MVR 4.8 billion earmarked to support various housing initiatives nationwide. This allocation reflects the government’s focus on expanding housing availability and improving living conditions for citizens.
The proposed budget, now under parliamentary review, will undergo further discussions and potential adjustments before final approval, as lawmakers assess the fiscal plan’s impact on national goals and long-term development strategies.
According to the budget outline, the government expects MVR 39.8 billion in revenue and grants for the coming year, with MVR 2.6 billion anticipated as free aid from international partners and organizations.
The proposed expenditure stands at MVR 49.2 billion, with a substantial portion — MVR 35.9 billion — designated for recurrent expenses, which cover government operational costs and public service functions. Meanwhile, MVR 13.3 billion is allocated for capital expenditure, directed toward projects intended to stimulate economic growth and development across the Maldives.
With projected revenues falling short of total expenditures, the budget reflects an anticipated deficit of MVR 9.4 billion. Minister Moosa Zameer noted that strategic financing measures will be essential in addressing the deficit while maintaining commitments to essential services and developmental projects.
One of the budget’s highest priorities is housing, with MVR 4.8 billion earmarked to support various housing initiatives nationwide. This allocation reflects the government’s focus on expanding housing availability and improving living conditions for citizens.
The proposed budget, now under parliamentary review, will undergo further discussions and potential adjustments before final approval, as lawmakers assess the fiscal plan’s impact on national goals and long-term development strategies.
