President declares 2025 budget for housing, homeownership

President Mohamed Muizzu has declared that the proposed budget for 2025 prioritises housing and homeownership.

He made this statement during his address at the launch of the Hiyaavehi Financing Programme held on Tuesday morning.

Emphasising the importance of housing and homeownership in next year’s budget, the president stated that the New Policy Initiatives would focus on fulfilling the pledges made regarding these areas.

As part of the 2025 budget, the Hiyaavahi Financing Programme will receive MVR 1 billion in addition to the MVR 1.5 billion allocated to contractors.

In his address, President Muizzu noted that housing and homeownership ranked just behind defence and national security issues.

He assured that his government would seek long-term, sustainable solutions to this pressing problem, stating that this policy would remain steadfast for years to come.