Govt targets completion of 70% of contracted projects in 2027, says president

President Dr Mohamed Muizzu has said the government's proposed budget for 2027 will prioritise completing at least 70% of projects that have already been contracted, including those currently under implementation or facing delays.

Speaking on the state media programme Nation Chat on Wednesday, Muizzu said the government intends to make 2027 a year in which most existing projects are completed.

The President made the remarks ahead of the submission of the 2027 state budget to Parliament on Thursday.

Muizzu said the proposed budget would also include allocations for new projects intended to fulfil his administration's pledges, although completing existing projects would remain the priority.

"Rather than starting new projects, the main focus next year will be on implementing projects that have already been awarded, projects for which contracts have been signed, and projects that have been delayed," he said.

The President said the government's efforts over the past three years to reduce debt and improve the country's credit rating had helped create conditions for implementing development projects.

"Over these three years, we have worked to relieve the people of debt, reduce debt and improve the credit rating. God willing, this has paved the way for projects to be implemented in the coming days," Muizzu said.

The government has yet to disclose the total value of the proposed 2027 budget.

A parliamentary sitting has been scheduled for Thursday afternoon for the budget presentation.

The MVR 64 billion budget approved for 2026 was the largest in the Maldives' history.