Maldives’ budget deficit expected to top MVR 9bn in 2027

The Maldives’ overall budget deficit is expected to top MVR 9 billion next year, according to projections by the Finance Ministry.

Finance Minister Hassan Zareer presented a proposed state budget of MVR 59.7 billion for next year to the Parliament on Thursday afternoon.

Total spending is expected to exceed total revenue again this year.

According to Zareer, the government projects total expenditure to reach MVR 52.6 billion, well above the MVR 43.2 billion in projected revenue and grants.

This is expected to result in an overall budget deficit of MVR 9.4 billion, making for a budget deficit-to-GDP ratio of 7.3 percent.

To be updated….