Finance Minister Dr. Mohamed Shafeeq has said the Government has no intention to increase taxes related to the public.

Replying to questions from members of the Parliamentary Finance Committee on the statement of the government's medium-term debt strategy, Minister Shafeeq said the reform measures needed to improve the economy in 2025 will be implemented without directly raising taxes on the general public.

The minister said the biggest problem is the obstacles faced by the government in paying its external debt and paying the bills of the public.

The next biggest concern is the increase in the amount of foreign debt owed by the government in 2025 and 2026, he said.

The minister said we could not move forward without taking fiscal reform measures to increase debt sustainability. He said revenue should be increased while reducing expenditure.

The government will take measures to increase revenue and reduce expenditure, he said.

The minister said the highest priority would be to not increase the taxes paid by the common people. As such, he stressed that the government has no intention of increasing taxes like GST, TGST, BPT and withholding tax.

The minister said the decision was taken because taxes had been increased recently during the previous government.

The minister said the government's intention is to expand the tax base and increase revenue. He also said that in preparation for paying off the huge foreign debt in 2026, the government is considering increasing taxes and fees that generate revenue in dollars.

“They are debts that have to be paid in dollars. Every Maldivian citizen should work towards building a sovereign development fund,” he said.

The minister said the government plans to increase dollar-denominated fees such as green tax, duty on health hazards, airport development tax and departure tax.

However, the minister said he had no intention of increasing the airport fee.