Maldives Budget Committee to Conclude 2027 Budget Study by November 19

The Budget Study Committee of the People's Majlis has approved the conclusion of the budget study for the year 2027 within the next two weeks. The decision was made at a meeting of the Budget Committee today, following a proposal by PNC Member for Funafu constituency, Mohamed Mamdooh. Member Mamdooh proposed concluding the budget study by the end of the 19th of this month. Member Ahmed Aifan from Henveiru North constituency supported the proposal, and all members of the committee voted to pass it. The proposed budget for 2027 is MVR 59.7 billion, which is MVR 4.5 billion lower than the budget passed by the Majlis for this year. The budget for the current year stands at MVR 64.2 billion. According to the budget details, total expenditures are estimated at MVR 52.6 billion, with the majority, MVR 42.7 billion, allocated for operational or recurrent expenditures. Capital expenditures, part of the state's development projects, amount to MVR 9.9 billion, while MVR 8.2 billion has been allocated for the Public Sector Investment Programme (PSIP).