Maldives sets completing at least 70 per cent of running projects as the main aim of its next State Budget

28 October 2026

President Dr Mohamed Muizzu has said the chief aim of the Maldives' 2027 State Budget is to finish and hand over no less than 70 per cent of the infrastructure and development works already under way. He set this out in the sixth episode of Nation Chat, a podcast run by Public Service Media, the state broadcaster. The President said the budget was due to go to the People's Majlis on 29 October and has been built around essential public services, with hospitals and schools treated as the works to be closed out first. Looking back at the position when his administration took charge, he said the country stood close to default and that steadying the economy was the first task. Those steps, he said, lifted gross and usable foreign exchange reserves to their highest recorded levels by the start of this year. He promised continued spending controls, a smaller budget deficit, lower national debt and a search for fresh revenue. On the Rasmale housing scheme and similar capital works, he said each has been tied to future income streams so that no extra borrowing falls on the State Budget.