“State budget 2025 will prioritise the commitments of the President”

Ministry of Finance has announced that the state budget 2025 will prioritise fulfilling the commitments of President Dr. Mohamed Muizzu, with a particular focus on launching several major industrial projects. Deputy Minister of Finance Ahmed Saaid Musthafa confirmed that the budget has been finalised with the aim of delivering on the promises made by the president. The government has proposed a state budget worth USD 3.7 billion to the parliament. An allocation of USD 804 million is designated for the Public Sector Investment Programme (PSIP) projects. This marks the largest allocation for PSIP projects in the country’s history. Speaking on a programme aired on PSM News, Deputy Minister Saaid explained that President Dr. Muizzu took office with numerous commitments, particularly the resolution of the housing crisis. He emphasised that this is the first budget presented by the current administration and that it had been finalised with a primary focus on fulfilling the president’s pledges. Furthermore, Deputy Minister Saaid acknowledged that the funding allocated to PSIP projects in previous budgets had been insufficient. However, the deputy minister stressed that the 2025 budget aims to accelerate the completion of key PSIP initiatives. Notably, he revealed that the ongoing development of Velana International Airport (VIA) and the Thilamale’ Bridge is prioritised in both the 2025 state budget and this year’s supplementary budget as well. Additionally, Deputy Minister Saaid stated that the priority given to housing by President Dr. Muizzu can be reflected from the state budget. The 2025 budget has been described as the largest government expenditure on housing in the nation’s history, with the government describing the upcoming year the “golden age of housing” in the Maldives.