Finance Minister reveals debt repayment to drop from 11.7 bn to 4.5 bn rufiyaa next year

Finance Minister Hassan Zareer has informed the People’s Majlis that the government expects to spend 11.7 billion rufiyaa on debt repayment by the end of this year, and that this figure could be reduced to 4.5 billion rufiyaa next year. Presenting a budget estimate of 59.7 million rufiyaa for the year 2027, the minister stated that while previous governments had incurred debts, the current administration is well-prepared to manage repayments. So far this year, 10.7 billion rufiyaa has been spent on debt repayment without taking on any new debt. The minister said this reduction was an important measure to safeguard future generations from debt burden, and that the repayment efforts have boosted the confidence of external financial institutions and improved the country’s credit rating.