President Dr Mohamed Muizzu has announced that the government’s proposed state budget for 2027 will prioritise completing 70 percent of development projects already awarded, shifting greater attention towards delivering ongoing projects rather than launching new ones.
Speaking during the latest edition of the Nation Chat programme, the President outlined his administration’s priorities for the upcoming financial year, emphasising the importance of ensuring that development projects are completed and their benefits delivered to the public.
The President said the proposed budget, scheduled to be submitted to the People’s Majlis on Thursday, will place particular emphasis on accelerating work on projects that have already been contracted.
He explained that the government’s objective is to complete and hand over at least 70 percent of these projects during 2027, allowing communities to benefit from investments that have already been committed.
Illustrating the target, President Muizzu said that if 100 projects have been awarded, the administration intends to complete 70 of them and make them available for public use within the coming year.
The President acknowledged that some development projects have yet to be awarded as part of the administration’s commitments to the public. However, he stressed that completing existing projects would take precedence over initiating additional developments.
The announcement signals a greater focus on project delivery as the government seeks to balance its infrastructure commitments with efforts to improve the country’s financial position.
Development projects remain a major component of public expenditure in the Maldives, particularly in areas such as harbour construction, water and sewerage infrastructure, housing, healthcare and other essential services across the islands.
Many of these investments are implemented through the government’s Public Sector Investment Programme (PSIP), which finances infrastructure and development initiatives throughout the country.
President Muizzu said his administration has spent the past three years working to address financial challenges, including reducing the national debt and improving the Maldives’ sovereign credit rating.
He described these efforts as part of a broader strategy to strengthen the country’s financial stability while creating conditions that would allow development projects to proceed without interruptions.
According to the President, the government has introduced measures aimed at improving fiscal management and ensuring that future development commitments can be fulfilled sustainably.
He said the 2027 budget would reflect the administration’s continuing policy of reducing government expenditure while directing available resources towards priority areas.
The proposed financial plan will also outline measures intended to narrow the fiscal deficit, strengthen fiscal discipline and improve the country’s broader economic indicators.
The Maldives has faced sustained pressure on public finances in recent years, with government debt obligations, infrastructure spending and the cost of delivering public services presenting significant challenges for fiscal management.
Efforts to reduce the budget deficit and improve debt sustainability have consequently become central to the government’s economic policies.
Against this backdrop, prioritising the completion of ongoing projects would allow the administration to concentrate resources on developments where contractual commitments have already been made.
The President said the government remains committed to taking responsibility for the country’s development needs while ensuring that public investments translate into tangible improvements in people’s lives.
He also expressed confidence in the administration’s efforts to strengthen the economy, stating that measures undertaken by the government have received recognition from international organisations.
President Muizzu said he expects these developments to contribute to greater confidence in the Maldivian economy and attract increased interest from international investors.
He maintained that improving fiscal responsibility, strengthening economic indicators and delivering development projects would remain important priorities as the administration prepares its financial plans for 2027.
The proposed budget will be presented to Parliament on Thursday, setting out the government’s expenditure priorities and fiscal strategy for the coming year.
