Govt targets completion of all projects by 2027, says Zameer
Zameer said the government is reviewing cash flow arrangements with the companies implementing the projects to ensure timely completion.
Finance Minister Moosa Zameer has said that all ongoing government projects will be completed within a maximum period of 24 months.
Speaking at a meeting of Parliament’s Budget Review Committee on Monday, Minister Zameer said the government is reviewing cash flow arrangements with the companies implementing the projects to ensure timely completion.
Responding to a question from Kelaa MP Ibrahim Shareef, who noted that several projects initiated under the previous administration had been halted for various reasons, Zameer said, “We are currently in discussions with contractors on financing and project management. I believe these can be funded within the MVR 8.3 billion allocated in the budget.”
He added that the government has taken two approaches to address stalled projects: handing them over to state-owned enterprises or re-tendering them to new contractors.
“We are targeting to complete the existing projects within 18 months or, at most, within 24 months,” the minister said.
The 2026 State Budget presented to Parliament outlines:
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Total Budget: MVR 64 billion
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Estimated Revenue: MVR 31.3 billion from taxes and MVR 8.7 billion from other sources
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Grants: MVR 373.6 million
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Total Revenue (including grants): MVR 40.4 billion
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Expenditure: MVR 49.2 billion
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Budget Deficit Financing Need: MVR 8.8 billion
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Recurrent Expenditure: 62 percent of the budget, amounting to MVR 39.9 billion
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