Ministry or office
Ministry of Finance
In the news, last 90 days
Economy
Govt spends MVR 219.7M on travel-related expenses so far this year
The Maldives government has spent MVR 219.7 million on official travel-related expenses so far this year, which is 80 percent of the MVR 273.6 million allocated in the MVR 64 billion budget, according to Finance Ministry data as of October 29. Spending in the corresponding period last year was MVR 226.7 million, and the publication of expense reports for President Dr. Mohamed Muizzu's official overseas trips has been suspended.
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
Proposed 2027 budget boosts social protection spending to over USD 259 million
The proposed 2027 state budget allocates over USD 259.40 million for social protection services, an 8.8 per cent increase from the outgoing fiscal year, with the largest share going to senior citizen care and pensions. Capital spending under the Public Sector Investment Programme will fund safe homes for women, elderly facilities and domestic violence shelters.
Economy
Budget 2027: Government allocates over MVR 4 billion for social...
The proposed 2027 State Budget allocates more than MVR 4 billion for social security services, an 8.8 per cent increase over the previous year, covering pensions, sick and disability assistance, elderly, children and family support. The Ministry of Finance projects further increases in pension and social assistance spending, and PSIP capital expenditure in the area includes Amaan Hiyaa, old-age homes and special shelters for domestic violence victims.
Economy
Budget 2027: Committee agrees to finish deliberating on budget by 19th November
The Parliamentary Budget Committee has drawn up a schedule to complete its deliberations on the 2027 State Budget by the 19th of this month, meeting with state agencies, Finance Ministry officials, the MMA and the Auditor General. The government has submitted a budget of MVR 59.7 billion for 2027.
Economy
Kuwait Fund quadruples annual financing limit for Maldives
The Kuwait Fund for Arab Economic Development announced it will raise its annual financing limit for the Maldives from USD 10 million to USD 40 million, effective next year, following discussions with Minister of Finance and Public Enterprises Hassan Zareer. The announcement coincided with the signing of a loan agreement worth roughly USD 9.7 million for the development of the Thaa Atoll Hospital.
Economy
Kuwait Fund extends USD 9.7 million loan for Thaa Atoll Hospital
The Maldives secured a KWD 3 million (about USD 9.7 million) loan from the Kuwait Fund for Arab Economic Development to build a 50-bed hospital in Th. Veymandoo, signed by Finance Minister Hassan Zareer and KFAED Acting Director General Rashid Al-Bader. The Fund also confirmed it will raise the Maldives' annual country loan limit from USD 10 million to USD 40 million starting in 2027 and expressed interest in the proposed Thilafushi port development project.
Economy
MVR 650 million loan issued to MACL for Giraavaru lagoon reclamation
A treasury loan of MVR 650.7 million was issued from the state budget this year to the Maldives Airports Company Limited (MACL) to cover reclamation costs of Giraavaru lagoon, where plots are allocated under the Binveriyaa housing scheme. Reclamation of Giraavaru Falhu, resumed by MACL in January, remains incomplete, with satellite imagery showing no work since it stalled in April.
Economy
Government Targets Cheaper Domestic Flights With New Subsidies
The Maldivian government has earmarked transport subsidies in the projected 2027 state budget to reduce domestic airfares, including MVR 111 million for the North Connectivity Project. Remaining funds will expand the Raajje Transport Link ferry and bus network to uncovered atolls while maintaining subsidised fares on existing routes.
Education
Construction of National Centre for the Holy Qur’an branch in...
A branch of the National Centre for the Holy Quran has been completed in Gaafu Alifu Vilingili as part of a government decentralisation policy to widen access to Quranic education. Minister of Islamic Affairs and Endowments Dr Mohamed Shaheem Ali Saeed said 30 branches have been opened, work is underway on 20 more islands, and the Ministry has asked the Ministry of Finance to fund another 30 locations in next year's budget.
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.
Society
Former Dhiraagu chairperson Rilwan Shareef passes away
Former Dhiraagu chairperson and Villa Air managing director Rilwan Shareef died while receiving treatment at Indira Gandhi Memorial Hospital, six months after suffering a stroke. He previously served as State Minister and Deputy Minister of Finance, held a board seat and chairperson role at Dhiraagu, and was a director of the Maldives Stock Exchange.
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