The Government has allocated MVR 2.5 billion for new projects to be implemented between 2027 and 2029.

According to a circular issued by the Ministry of Finance and Public Enterprises, the medium-term budget for 2027-2029 will be prepared based on the Government's manifesto commitments and presidential pledges. As part of the first phase of the budget process, Government offices have been requested to submit proposals for new policy initiatives and projects planned for the three-year period.

The ministry said new policy initiatives should include activities and projects that require additional budget allocations and support the implementation of Government policies, manifesto commitments and presidential pledges. State institutions have also been asked to submit proposals aimed at increasing Government revenue. All submissions for the 2027-2029 medium-term budget must be made in accordance with the guidelines set out in the circular before 18 August.

Of the MVR 2.5 billion allocated for new projects, MVR 2 billion has been earmarked for infrastructure development projects, while MVR 500 million has been allocated for other new initiatives and activities.

The ministry also announced that Gender Equality and Social Inclusion budgeting will be piloted under the 2027-2029 budget framework to assess the impact of Government spending on gender equality and social participation. In addition, agencies proposing climate-related activities or projects will be required to clearly identify the climate component of their proposals as part of efforts to strengthen climate-responsive budgeting.