Cabinet Approves MVR 25 Billion National Budget for 2026

The Cabinet has approved the national budget proposal for 2026, amounting to MVR 25 billion, and decided that the proposal will be submitted to the People's Majlis within 30 days. Announcing the decision, the government said the total size of the proposal is MVR 25 billion. Under the proposal, development expenditure has been set at MVR 2.5 billion, while the fiscal deficit is projected at 6 percent. Minister of Finance Dr. Aminath Shauna said the budget proposal has been prepared to support the government's priorities and to maintain fiscal discipline. She said the proposed budget will be submitted to the People's Majlis within 30 days. According to the Minister, the budget proposal has been prepared with the objective of meeting the needs of the people and strengthening the economy. She reiterated that development expenditure will be MVR 2.5 billion. The proposal was approved by the Cabinet at today's meeting. The Cabinet said the budget proposal is intended to promote economic growth, increase revenue, and control public spending.