Budget 2027: Committee to study and conclude budget by 19th of this month

The Finance Ministry proposed a budget for next year, and the committee has decided to study and conclude it within the next two weeks. At a meeting held today by the Budget Committee, a time was set to study and conclude the budget as the 19th of this month. This was proposed by PNC Member Mohamed Mamdooh of the Funadhoo constituency. And this proposal was supported by Ahmed Aifan, member of the Henvaaru North constituency. The government has proposed a budget of MVR 59.7 billion for 2027. Total revenue is MVR 43.2 billion (MVR 33.6 billion as tax, MVR 9.1 billion non-tax, and MVR 349.3 million as grants). Estimated expenditure is MVR 52.6 billion; of which operational expenditure is MVR 42.7 billion. MVR 9.9 billion is allocated for development projects and investments; of which MVR 8.2 billion is allocated for PSIP. MVR 3 billion is included for housing projects; of which MVR 750 million is allocated to sell equity for the loan scheme offered to those who want to buy new homes and construct them. This is a deficit budget of MVR 9.4 billion. Ahmed Salim, PNC member of the Addu Atoll constituency, was also appointed as the rapporteur of the Budget Study Committee this year. And the deputy rapporteur is Ali Fazaa, PNC member of the Fuvahmulah Middle constituency.