Parliament on Wednesday approved a record MVR 56.6 billion budget for 2025, with 70 members voting in favour and 11 opposing the proposal.
Finance Minister Moosa Zameer presented the budget on 31 October, with parliamentary debate concluding on 16 November.
During discussions, ruling Progressive National Congress (PNC) members hailed the budget as robust and well-prepared. However, opposition Maldivian Democratic Party (MDP) members raised concerns, claiming the Finance Ministry failed to disclose adequate details to the legislature, deviating from past practices.
Criticism from the opposition focused on a perceived lack of equitable allocation for projects across individual islands and a significant reduction in subsidies. The budget allocates MVR 7.9 billion for subsidies, compared to MVR 10.9 billion in 2024. Fisheries, oil, electricity, medical care, and subsidies to fishermen are among the areas facing cuts.
Another contentious issue was the housing allocation, which stands at MVR 2.7 billion for 2025, a decline from the MVR 3.4 billion allocated for the current year. Despite the Mohamed Muizzu administration pledging to prioritise housing, opposition lawmakers described the reduced allocation as inadequate.
The budget’s passage comes amidst heightened scrutiny of government spending, with stakeholders questioning its capacity to address rising economic challenges while ensuring equitable development across the nation.