Parliament sets 15 minute limit for MPs to debate 2026 budget

Parliament’s General Committee has decided to give each MP a maximum of 15 minutes to debate the government’s proposed budget for next year.

At today’s meeting, committee vice-chair and Holhudhoo MP Abdul Sattar Mohamed said that the allocation of time follows the precedent set last year, when MPs were similarly given 15 minutes each. Members of the Budget Review Committee were given seven minutes per member to discuss the report, while the Finance Minister had 45 minutes to respond to questions and comments. The committee unanimously approved maintaining the same schedule for this year’s debate.

The government on Thursday proposed a budget of MVR 64.2 billion for 2026; an increase of MVR 8 billion compared with the current year.

Parliament has given members seven days to begin the debate.

The budget projects MVR 40.2 billion in revenue next year, with recurrent expenditure estimated at MVR 39.9 billion, accounting for 62 percent of total spending up 3.3 percent from this year. Capital expenditure has been set at MVR 9.3 billion, while the projected budget deficit is MVR 8.8 billion.

The primary driver of the increase is rising debt repayment obligations. The government is due to repay a USD 500 million sukuk (MVR 7.7 billion) in April, along with a USD 100 million (MVR 1.5 billion) bond issued during the administration of former President Ibrahim Mohamed Solih.