Budget 2026: MVR 17.1 billion budgeted for salaries

The proposed budget for next year, submitted to the Parliament last Thursday, includes MVR 17.1 billion for the salaries of 54,000 employees across various government institutions.

The projected expenditure for employee salaries in next year's budget has increased by approximately MVR 3 billion compared to the amount budgeted for the current year, which is MVR 14.7 billion.

Budget figures indicate that the number of government employees recorded this year is 46,000. It is projected that an additional 7,000 employees will be added to the public service next year.

While the number of employees is increasing, the government has also implemented a salary hike. The budget for next year includes MVR 1.7 billion specifically for the Pay Harmonization scheme.

The government has proposed a total budget of MVR 64.2 billion for next year. Approximately 30 percent of this budget is allocated to employee salaries and benefits, and 62 percent is allocated to recurrent expenditure.

In 2023, the amount spent on salaries was MVR 13.5 billion.

As the expenditure on employees increases year over year, next year is also set to be the year with the largest debt repayment obligation in Maldivian history. The government is required to pay USD 600 million (MVR 9.2 billion) in Sukuk and bond payments in one lump sum, due in April of next year.