Person
Hassan Zareer
Described in the news as: Minister of Finance and Public Enterprises; Finance Minister; Minister of Finance; Minister of Finance and Government Enterprises.
In the news, last 90 days
Tourism
Long-delayed Hulhumale' City Hotel opens as Manhattan Grand Hotel
The long-delayed Hulhumale' City Hotel reopened on 7 November 2026 as the Manhattan Grand Hotel, inaugurated by Minister of Finance Hassan Zareer. The property, originally an STO project begun in 2011, was handed over to World of Business Pvt Ltd for redevelopment into a five-star hotel.
Health
Veymandoo’s new hospital will be a reliable facility for the entire region: Kuwait Fund
The Maldives government and the Kuwait Fund for Arab Economic Development signed a loan agreement for 3 million Kuwaiti Dinars (about USD 9.7 million) to develop the Thaa Atoll Hospital in Veymandoo, the fund's first investment in the Maldivian healthcare sector and its 15th loan to the country. At the ceremony, the Kuwait Fund's Acting Director General also announced it is raising the Maldives' annual country limit from about USD 10 million to USD 40 million effective next year.
Economy
Budget 2027: Committee approves timeline to finalize budget review within two weeks
Parliament's Budget Review Committee approved a timeline to finalize the proposed 2027 state budget by November 19, and scheduled a session on November 9 to question the Ministry of Finance. A budget of MVR 59,704,440,795 has been submitted to the People's Majlis for 2027, with total expenditure estimated at MVR 52.6 billion.
Economy
Kuwait Fund quadruples Maldives’ annual financing limit to USD...
The Kuwait Fund for Arab Economic Development agreed to raise the Maldives' annual financing limit from USD 10 million to USD 40 million from 2027, and signed a loan agreement worth about USD 9.7 million for a 50-bed hospital in Veymandoo. The two sides also discussed possible financing for the Thilafushi port development project as the partnership marks 50 years.
Health · Press release
Agreement signed with Kuwait Fund to develop Th. Atoll Hospital
The Government of the Maldives signed an agreement with the Kuwait Fund for Arab Economic Development for a loan of 3 Million Kuwaiti Dinars (about USD 9.7 million) to build a modern 50-bed Th. Veymandoo New Hospital in Th. Atoll. The Fund also announced it will raise its annual loan limit for the Maldives from USD 10 million to approximately USD 40 million from 2027 onwards.
Economy
Budget 2027: MVR 513.5 million in PSIP funding to boost renewable...
The proposed 2027 state budget allocates MVR 513.5 million in PSIP funding for renewable energy projects, nearly all of the MVR 515.7 million set for electricity generation and distribution infrastructure, a 41 per cent increase over 2026. The funding supports the government's target of 33 per cent renewable electricity by 2028 and includes the ongoing Magey Solar rooftop programme.
Economy
Budget 2027: Islamic Ministry receives lowest allocation
Official Finance Ministry figures submitted to the People's Majlis show the Islamic Ministry receiving the lowest allocation in the 2027 projected state budget at MVR 578.0 million, while education receives MVR 6,279 million and housing MVR 5,067 million. The total budget passed for next year is MVR 59.7 billion, MVR 4.5 billion lower than this year's MVR 64.2 billion, with expenditure projected to rise to MVR 52.6 billion.
Economy
Budget 2025: Each MP allotted 15 minutes for debate, with 45 minutes for Minister to respond to inquiries!
The Parliament's General Purposes Committee approved a debate structure for the government's proposed MVR 59.7 billion budget for 2027, allotting each MP 15 minutes of debate and the Minister of Finance 45 minutes to respond. Finance Minister Hassan Zareer presented the budget, which totals MVR 59,704,440,795, a MVR 4.5 billion decrease from the 2026 budget, with MVR 52.6 billion in state expenditure and MVR 43.2 billion in projected revenue and grants.
Economy
Budget 2027: MVR 8.2 billion allocated for PSIP projects
The government has proposed MVR 8.2 billion for the Public Sector Investment Programme in the 2027 budget, making infrastructure development the highest capital expenditure priority, with a target of completing 70 per cent of ongoing projects. The largest shares go to economic development infrastructure (MVR 3.07 billion), housing and community infrastructure (MVR 1.47 billion) and environmental protection infrastructure (MVR 990.6 million).
Infrastructure
Budget 2027: Hulhumalé Grand Mosque construction among key priorities
Minister of Finance and Public Enterprises Hassan Zareer said construction of the Hulhumalé Grand Mosque is among the Government's key priorities for the proposed 2027 State Budget presented to Parliament. The complex, planned as the country's largest mosque with a prayer hall for 10,000 worshippers, had its land handed over by HDC to the Ministry of Islamic Affairs and Endowments on 10 June 2026 and its site handed over to Saudi Arabia's Al Rajhi Company on 12 September under a memorandum of understanding.
Economy
Budget 2027: Three additional drug rehabilitation centres planned
The Maldivian Government plans to build modern drug rehabilitation centres in three additional regions under the proposed 2027 State Budget, presented to Parliament by Minister of Finance and Public Enterprises Hassan Zareer. The MVR 59.7 billion budget also includes measures to expand employment for persons with disabilities and introduce a Gender Equality and Social Inclusion (GESI) framework.
Politics
PNC secures both seats in election for LGA board
The ruling People's National Congress (PNC) won both contested seats in the election for representatives of local councils and Women's Development Committees on the Local Government Authority Board, with Ali Ahmed and Maryam Zeena defeating MDP opponents, while Kulhudhuffushi City Mayor Mohamed Athif was elected unopposed to the city council seat.
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