The proposed MVR 59.7 billion budget for 2027 has been submitted to Parliament, outlining the government’s spending plans to achieve key national priorities.

The total proposed budget stands at MVR 59,704,440,795 (Fifty-nine billion, seven hundred and four million, four hundred and forty thousand, seven hundred and ninety-five Maldivian rufiyaa), which is MVR 4.5 billion lower than the budget approved for 2026.

Of the total budget, MVR 52.6 billion is allocated for government expenditure, comprising MVR 42.7 billion in recurrent expenditure and MVR 9.9 billion in capital expenditure. The capital expenditure allocation includes MVR 8.2 billion for the Public Sector Investment Programme (PSIP), which funds development projects.

The government estimates that it will receive MVR 43.2 billion in revenue and grants in 2027, an increase of MVR 1.4 billion compared with 2026.

Government revenue is projected to continue increasing over the medium term, reaching MVR 46.6 billion in 2028 and MVR 49.7 billion in 2029.

As part of its revenue policy for next year, the government has decided not to increase any existing taxes.