Budget Committee Sets November 19 Deadline for 2027 Budget Review

The Budget Study Committee of the People's Majlis has decided to complete its study and conclude the proposed state budget for next year by November 19. The decision was made during a meeting held today to discuss the timeline for reviewing the budget submitted by the Ministry of Finance. Member Mohamed Madooh from the Funadhoo constituency proposed the November 19 deadline, which was supported by Member Ahmed Aifan from the Henveiru North constituency. The committee also set Monday, November 9, as the date for a meeting with the Ministry of Finance regarding the budget. However, it remains unclear when the committee will meet with the Maldives Monetary Authority (MMA) and the Auditor General to obtain their advice, as required by law concerning the budget. Initially, the committee approved obtaining opinions in writing from independent institutions regarding their allocated budgets. This move drew concern from MdP PG Leader and Hithadhoo South constituency member Ibrahim Nazeel, who noted that in previous years, these entities were summoned to the committee to provide opinions in person, which made it easier to resolve concerns. In response, PNC members argued that due to limited time, it would be difficult to proceed in that manner. Nazeel then proposed that if independent institutions wished to appear before the committee alongside submitting written opinions, an opportunity should be provided for them to do so. Mohamed Madooh supported this proposal, and the committee subsequently approved it. Finance Minister Hassan Zareer submitted a budget of 59.7 billion rufiyaa for 2027 to the People's Majlis on October 29 last year. This is approximately 4.5 billion rufiyaa less than the 64.2 billion rufiyaa budget approved for this year.