The Government’s proposed MVR 59.7 billion State Budget for 2027 is designed to improve living standards, strengthen social justice and support the Maldives’ development ambitions towards becoming a developed nation by 2040, Minister of Finance and Public Enterprises Hassan Zareer has said.

Presenting the budget to the People’s Majlis, the Minister described it as a roadmap to building a fair, just and productive society.

The Government has projected total expenditure of MVR 52.6 billion, including MVR 42.7 billion in recurrent spending and MVR 9.9 billion in capital expenditure.

The proposed budget allocates MVR 8.2 billion for the Public Sector Investment Programme (PSIP), which funds infrastructure and development projects.

Revenue and grants are projected to reach MVR 43.2 billion in 2027, an increase of MVR 1.4 billion compared with 2026. Revenue is forecast to rise further to MVR 46.6 billion in 2028 and MVR 49.7 billion in 2029.