President Dr. Mohamed Muizzu has revealed plans to allocate 50 percent of the annual state budget for PSIP projects for housing.

Speaking at the opening ceremony of the PNC House last night, the President said the top priority of his government would be to solve the housing crisis faced by the people.

The budget passed by the 19th Parliament for this year does not meet the needs of the people in the most complete manner, he noted.

However, the 20th parliament, which has a majority of the PNC, will pass a budget that will give priority to projects, he said. One-half or 50 percent of the PSIP budget allocation will be allocated for housing projects, he said.

"At least 50 percent every year will be allocated for housing construction. This has never been done in the Maldives," he said.

The government will give priority to housing projects despite the difficulties in this year's budget, he said. He said that housing will be provided to all the people within five years.

The President said the dredging work would resume next month on the RasMalé project, and that the work will be completed by the end of this year. The government's economic agenda will also include land reclamation in Gulhifalhu, Giraavarufalhu, Hulhumalé Phase 3 and other islands.