Elections Commission (EC) has set a budget of MVR 120 million for the 2023 Presidential Election.

Chairman of the commission, Fuad Thaufeeq noted that an expected MVR 95 million will be required for the first round of the Presidential Election. If the election extends to a second round, an additional MVR 25 million will be required.

"Hence, we have requested for a budget of MVR 120 million for the election at the Finance Ministry," he added.

Fuad further highlighted that a larger budget is required this time around since the number of voters abroad will increase this time. He also added that since the machinery at the commission is outdated, they needed to renew those as well.

The Calendar for Presidential Election is also being developed at the moment, which will be publicized soon according to Fuad.

Candidates who have expressed their bid to run in the election so far include the leader of Maldives Development Alliance (MDA) Ahmed Siyam Mohamed, interim leader of DRP and Kaashidhoo MP Abdulla Jabir, Maldives National Party (MNP) President and Dhangethi MP Mohamed Nazim and former President Abdulla Yameen who will be running under the PPM/PNC Coalition.

Both President Ibrahim Mohamed Solih and Speaker of Parliament Mohamed Nasheed has also expressed their intent to compete for the MDP Presidential Ticket for the eleciton.