“2026 budget built to lift the nation from inherited debt and deliver true development” says Minister Zameer

Minister of Finance Moosa Zameer presented the 2026 State Budget to the People's Majlis, calling it a leaner, responsible plan prioritizing debt repayment and economic stability. He said the administration inherited a crisis with reserves below USD 591 million and usable reserves below USD 100 million. The government has operated with a surplus in the first 40 weeks of 2025. Official reserves now stand at USD 860 million. The total budget is MVR 64.2 billion, including MVR 9.3 billion for sukuk and bond repayments. Core budget is MVR 55 billion. Revenue is MVR 40.3 billion. Deficit is MVR 9.4 billion. GDP growth projected at 5.3% in 2026. Recurrent expenditure is MVR 39.9 billion (62% of budget). PSIP is MVR 9.3 billion. Medium-term targets include reducing deficit to 5% of GDP by 2028 and direct state debt to 117% of GDP.

Minister of Finance Moosa Zameer presented the 2026 State Budget to the People's Majlis, calling it a leaner, responsible plan prioritizing debt repayment and economic stability. He said the administration inherited a crisis with reserves below USD 591 million and usable reserves below USD 100 million. The government has operated with a surplus in the first 40 weeks of 2025. Official reserves now stand at USD 860 million. The total budget is MVR 64.2 billion, including MVR 9.3 billion for sukuk and bond repayments. Core budget is MVR 55 billion. Revenue is MVR 40.3 billion. Deficit is MVR 9.4 billion. GDP growth projected at 5.3% in 2026. Recurrent expenditure is MVR 39.9 billion (62% of budget). PSIP is MVR 9.3 billion. Medium-term targets include reducing deficit to 5% of GDP by 2028 and direct state debt to 117% of GDP.

Minister of Finance Moosa Zameer presented the 2026 State Budget to the People's Majlis, calling it a leaner, responsible plan prioritizing debt repayment and economic stability. He said the administration inherited a crisis with reserves below USD 591 million and usable reserves below USD 100 million. The government has operated with a surplus in the first 40 weeks of 2025. Official reserves now stand at USD 860 million. The total budget is MVR 64.2 billion, including MVR 9.3 billion for sukuk and bond repayments. Core budget is MVR 55 billion. Revenue is MVR 40.3 billion. Deficit is MVR 9.4 billion. GDP growth projected at 5.3% in 2026. Recurrent expenditure is MVR 39.9 billion (62% of budget). PSIP is MVR 9.3 billion. Medium-term targets include reducing deficit to 5% of GDP by 2028 and direct state debt to 117% of GDP.

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