The Maldives Parliament has approved a budget of MVR 56.6 billion for the fiscal year 2025, with 70 members voting in favour of the proposal presented by the government. 

The budget was presented in Parliament on 31 May and subsequently debated following the tabling of the Budget Committee's report. The approved expenditure allocation amounts to MVR 49.2 billion, comprising MVR 35.9 billion for recurring expenses and MVR 13.3 billion for capital expenditure.

A significant portion, MVR 12.4 billion, has been designated for the Public Sector Investment Programme (PSIP). The government projects total revenue and grants for the year to reach MVR 39.7 billion, complemented by cost-cutting measures expected to save MVR 6.6 billion.

The government has projected a fiscal deficit of MVR 9.4 billion for 2025, marking the lowest level in recent years and hailed the budget as a "responsible" financial plan.

To enhance transparency, the Budget Committee has recommended that the government submit quarterly progress reports to Parliament detailing ongoing projects. Additionally, a list of PSIP programmes meeting implementation criteria will be sent to Parliament by February 2025. The committee has also suggested that by March, the government provide details of signed projects to share which initiatives will proceed and those which will not.

The committee's proposals were debated in Parliament and approved by 68 members.