The Parliament’s Budget Committee has completed its review of the proposed state budget for 2026, submitted by Finance Minister Moosa Zameer on 30 October. The proposed budget totals MVR 64.2 billion and has now been forwarded to the Parliament floor for further consideration.

Although the committee made several additions to the report, the overall budget figure remains unchanged. Among the amendments, the committee approved an extra MVR 3.5 million for the Parliament’s own budget, with the amount added through an internal budget adjustment.

The Parliament held extensive debates on the proposed budget, with 60 MPs speaking during the initial sessions. Each member was allotted 15 minutes to present their views. The debate is set to continue tomorrow, with MPs given seven minutes each to discuss the committee’s budget report.

According to the Finance Minister, 62 percent of the proposed MVR 64.2 billion budget, equivalent to MVR 39.9 billion, has been allocated for recurrent expenditure. This includes salary increases and harmonisation for a significant number of public sector employees. Capital expenditure for 2026 is set at MVR 9.3 billion.

The state is projected to collect MVR 31.3 billion in tax revenue and MVR 8.7 billion in non-tax income next year. With an estimated MVR 373.6 million in grant aid, total state revenue for 2026 is expected to reach MVR 40.3 billion, representing a 6.6 percent increase compared to this year’s projected income and grants.