2026 State Budget sets MVR 99 million for private insurance

The 2026 State Budget has allocated MVR 99 million for the government's private insurance.

As per the 2026 budget submitted to Parliament, private insurance will see an increase of MVR 44 million compared to this year. The private insurance budget for this year was set to MVR 55 million, with last year's private insurance expenditure at MVR 46 million.

Insurance expenditures are issued, as per the budget insurance code, to judges, ministers, citizens, MPs, parties to receive insurance defined in acts, state offices and assets.

Mihaaru News has been informed that insurance expenditures increased this time in order to cover the insurance for the six military drones. The government had purchased six military drones last year, with the drones incurring an expense of around MVR 550 million.

There has been no word from the Finance Ministry regarding this matter.

Expenditures that cover minister's insurance from the insurance budget will also double next year, with an amount of MVR 5.3 million having been set. The insurance for this year was at MVR 2.5 million. An insurance of MVR 1.6 million has been set aside for honorable members of the state as well.

Along with private insurance, MVR 2 billion has been set for Aasandha next year, which is around the same as this year.

A budget of MVR 64.2 billion has been submitted to Parliament from the government, with 62 percent being recurrent costs.