Maldives 2027 Budget: MVR 43 Billion Income, Expenses Higher by 9 Billion

The Finance Ministry has presented the proposed state budget for next year to the People's Majlis, projecting an income of MVR 43 billion while expenses are expected to exceed this by nine billion rufiyaa. Finance Minister Hassan Zareer revealed the details today. The total budget for next year is set at MVR 59.7 billion, with estimated income of MVR 43 billion, resulting in a deficit of nine billion rufiyaa. This follows a similar pattern for this year, where a record budget of MVR 64.2 billion was approved against an estimated income of MVR 40.4 billion. Minister Zareer stated that income is expected to increase beyond earlier projections, with current estimates indicating income will fall between MVR 41.5 billion and MVR 41.8 billion. He also commented on the amount of free aid, which has doubled this year, rising from an estimated MVR 373.6 million to MVR 522.4 million by the 15th of this month. High expenses are attributed to increasing debts and recurrent expenditures, such as salaries, pensions, subsidies, and Aasandha, which have prompted calls for reforms both domestically and internationally.