Budget Aim
The aim of Budget 2026 is to ensure the effective delivery of public services while maintaining macro-fiscal stability, restoring fiscal and debt sustainability, and fulfilling the objectives of the government.
Budget Books and Data
Economic Outlook
This report is based on the medium-term and fiscal outlook for 2026, taking into consideration both the global economic environment and the domestic economic conditions in the Maldives. Hence, the impact on Maldivian economic growth due to changes in global economic conditions has been highlighted.
Full Economic OverviewFiscal Policy
This report provides an overview of the fiscal and budgetary position of the Maldives. It outlines the main objectives and fiscal anchors established in the 2026 Budget. These actions are intended to enhance fiscal and debt sustainability and alleviate the medium-term financial burden.
Full Fiscal Policy OutlookFiscal Risk Statement
This statement will highlight the budgetary constraints anticipated in the medium term of 2026, including fiscal shocks resulting from economic slowdown and potential fluctuations in government revenues and expenditures.
Fiscal Risk StatementBudget Summary
Revenue and Grants
40,374.5 Million Ruffiyaa
Government revenue constitutes mainly tax revenue, non-tax revenues, and grants. In 2026, the government is estimated to collect a total of MVR 40.4 billion in revenue and grants. It's anticipated that the majority, specifically 77.5 percent, of this revenue will be derived from taxes.
Revenue Table
Expenditure
49,214.4 Million Ruffiyaa
The total expenditure allocated for the year 2026 is set at MVR 49.2 billion. Expenditure can be divided into two primary categories: recurrent expenditure which covers administrative expenses and the provision of public services to citizens on a day-to-day basis, and capital outlays, which is directed toward investments in infrastructure and other development projects. The difference between total budget and expenditure reflects the funds allocated for debt servicing obligations and capital repayments to external institutions.
Expenditure Table
Deficit
8,839.9 Million Ruffiyaa
The overall balance of the budget is determined by the difference between total revenue and grants and total expenditure. When expenditure exceeds total revenue and grants, a budget deficit occurs. The primary balance is calculated by excluding debt servicing costs from expenditure and finding the difference between revenue and grants. For 2026, the overall deficit is projected at MVR 8.8 billion, while the primary deficit is estimated at MVR 3.3 billion.
View Deficit Table
Classification of Expenditure by Functions of Government
Health
8,819.6 Million Ruffiyaa
In 2026, a total of MVR 8.8 billion has been allocated to the health sector, covering both recurrent spending for essential healthcare services and capital investments aimed at improving healthcare infrastructure and service delivery.
Health
Economic Affairs
6,088.1 Million Ruffiyaa
In the 2026 budget, an allocation of MVR 6.1 billion has been designated for various economic and industrial development initiatives as well as other economic affairs. The most substantial portions of this allocation constitutes of developments in the transport sector such as airport developments and indirect subsidies.
Economic Affairs
Education
5,655.1 Million Ruffiyaa
In 2026, MVR 5.7 billion has been allocated to the Education sector as part of the national budget. This allocation supports the operations and development of schools, and universities, as well as initiatives such as the free degree program, student loan schemes, scholarships and other assistance to students.
Education
Housing and Community Amenities
1,601.1 Million Ruffiyaa
In 2026, a total of MVR 1.6 billion has been allocated to housing and community development. This allocation includes the FDC Social Housing Scheme, construction and maintenance of council offices, as well as housing projects across the Maldivian Atolls.
Housing
Social protection
3,951.8 Million Ruffiyaa
This allocation is primarily aimed at supporting vulnerable groups in society. It includes pensions for citizens aged 65 and above, retirement allowances, and financial assistance for single parents and persons with disabilities. Additionally, it provides funding for therapy and support services for children with special needs.
Social Protection
Environmental protection
1,325.0 Million Ruffiyaa
This allocation is intended to support environmental protection and management. It covers subsidies for waste management and sewarage, waste-to-energy projects, and other environmental management initiatives such as coastal protection, water drainage systems and other waste management initiatives.
Environmental Protection
Defense, and Public Order and Safety
7,870.3 Million Ruffiyaa
This allocation supports the defense and security sectors, including the armed forces, police and the NSS. The primary expenditures within this allocation cover salaries and wages of the armed forces, including food and health expenses, as well as funding for the MNS and the DJA Block grant.
Defense, and Public Order
General Public Services
12,430.6 Million Ruffiyaa
In 2026, a total of MVR 12.4 billion has been allocated to General Public Services, primarily to support governance, fiscal management, and administrative functions. The largest component, MVR 5.6 billion, is allocated for public debt transactions, while MVR 2.5 billion is dedicated to council block grants under intergovernmental transfers. MVR 2.2 billion is allocated for general services, with the majority directed toward pay harmonization, and a further MVR 2.1 billion supports executive, legislative, financial, and external affairs.
Public Services
Recreation, Culture, and Religion
1,472.7 Million Ruffiyaa
In 2026, a total of MVR 1.5 billion has been allocated to Recreation, Culture, and Religion. The majority of this allocation, MVR 567 million, is directed toward recreational and sporting services to promote social engagement and healthy lifestyles. Additionally, MVR 386 million is allocated for religious and other community services, MVR 136 million for broadcasting and publishing services, and MVR 132 million for cultural activities, supporting the preservation of heritage and promotion of creative expression.
Recreation, Culture, and Religion
