Final Preparations Underway for Parliamentary Submission of Next Year’s Budget, Minister Zameer Reveals

The Minister of Finance and Planning, Moosa Zameer has revealed that the technical phase of the draft government budget for the upcoming fiscal year has been successfully completed, with final preparations now underway ahead of its presentation to Parliament.

Speaking to PSM News in Guraidhoo, Thaa Atoll, Minister Zameer confirmed that the budget process is proceeding according to schedule. The preparation of the first draft involved extensive meetings with all ministries and relevant government offices, culminating in the technical completion of the document by the Fiscal Affairs Department of the Ministry and the Policy Office of the President’s Office, he detailed

The Minister explained that following the submission of the draft to the President, the final phase will commence with relevant agencies before the mandatory parliamentary filing.

According to law, the state budget must be submitted to Parliament two months before the end of the fiscal year to allow for thorough debate and committee stages prior to approval.

While the government has not yet announced the total projected expenditure, Minister Zameer reiterated that the administration will prioritise the "Maldives 2.0" initiative in the new financial plan.

In addition, the budget is set to include a major focus on housing, with the President previously indicating that more than USD 64 million will be allocated for social housing projects and associated infrastructure.

The upcoming budget, which encompasses recurrent expenditures, capital infrastructure spending, debt repayments, and estimated revenues, signals a pivot from the current year’s fiscal strategy.

The government approved a USD 3.7 billion budget for the current year, which focused heavily on debt repayments through stringent austerity measures. The administration has since announced that the coming years will be marked by significant infrastructure and housing development without placing an undue burden on the public or the economy.