The proposed 2027 State Budget will secure the future stability, security, and development of the Maldivian citizens, Speaker of Parliament Abdul Raheem Abdulla has stated.
The Government has submitted a USD 3.87 billion budget for the coming year, which the Speaker described as reflecting President Dr Mohamed Muizzu's policies and plans to build a nation for Maldivians.
Addressing Parliament at the conclusion of the budget presentation, Speaker Abdul Raheem outlined the next stages of parliamentary scrutiny, announcing that a joint committee comprising the Finance Committee and the Economic Committee would examine the proposal.
In accordance with parliamentary procedures, he requested a review of the budget and explained that Parliament would schedule the debate seven days after its submission.
Minister of Finance and Public Enterprises Hassan Zareer, who presented the budget, urged Members of Parliament to approve the proposal without introducing amendments that could undermine its objectives. He also expressed gratitude for Parliament's support and contribution to national development.
The proposed budget outlines USD 3.41 billion in expenditure for 2027, with recurrent expenditure accounting for the largest share at USD 2.77 billion.
It also includes USD 642 million in capital expenditure for Government development projects and USD 532 million for the Public Sector Investment Programme (PSIP).
Overall, the proposed 2027 budget is approximately USD 292 million lower than the USD 4.16 billion budget Parliament approved for 2026.