Finance and Public Enterprises Minister Hassan Zareer has said the government’s top priority in the 2027 budget is to implement policies that will help transform the Maldives into a developed country by 2040.

Presenting the proposed budget for 2027, Minister Zareer said the government would focus on maintaining macroeconomic stability and improving the country’s fiscal position and debt situation.

“With the vision of being a developed country by 2040, our efforts will be aligned under the National Development Plan being prepared. By stabilizing the economy and returning public finances to a sustainable path, we will secure the financial resources needed to invest in people’s development, which is one of the key foundations,” he said.

Minister Zareer said the government would prioritize increasing state revenue, strengthening the planning and implementation of public investments, and ensuring state resources were used responsibly and efficiently.

The government has proposed a budget of MVR 59 billion for next year, MVR 4.5 billion less than the 2026 budget.

The Minister said development should not be measured by economic growth alone, but also by improvements in the living standards of every citizen.

He said the government’s vision for 2040 included modern infrastructure and transport, improved healthcare, quality education, comprehensive social security and equal opportunities for the public.

The Finance Ministry forecasts economic growth of between 3.9 and 6.8 percent next year.

Foreign reserves are projected to rise from USD 817.7 million at the end of this year to USD 907.2 million by the end of 2027.