The proposed 2027 national budget places special emphasis on social resilience, environmental protection, and expanding the fisheries and agriculture sectors, Finance and Public Enterprises Minister Hassan Zareer has said.

The minister said the budget aims to build a resilient society, strengthen preparedness for climate change, and expand key industries to support sustainable national development.

Climate Adaptation and Environmental Protection

The government plans to strengthen climate resilience and diversify the economy to support sustainable national development. Major initiatives, including the Climate Adaptation Model Island Project, have been prioritized to ensure the environmental sustainability of islands and improve their resilience to climate change.

Fisheries Sector

Recognizing fisheries as a vital industry for economic independence and public prosperity, the government plans to establish an additional 11,400 tonnes of cold storage capacity next year.

The budget also provides for increasing ice production capacity by 550 tonnes, including dedicated ice plants for reef fisheries.

In addition, efforts will be made to expand mariculture. A new large-scale cannery packing facility being established in Hulhumalé is expected to create direct foreign currency earning opportunities for small and medium-sized businesses.

Agriculture and Food Security

The proposed budget places particular emphasis on food security and strengthening the agriculture sector.

The government plans to introduce a robust system to regulate the import of crop varieties that can be grown in Maldivian soil. According to the minister, the primary objective is to ensure that Maldivian farmers receive fair value for their hard work and agricultural produce.