Budget aim
Budget 2018 aims to build the nation, alleviate the socio-economic issues faced by the people, modernize and enhance the services provided by the government and motivate and improve the productivity of public servants. The budget also aims to facilitate rising economic growth and investment in infrastructure development projects that would be most beneficial to the economy and the nation.
Budget book
Budget booklet
Budget speech
Budget data
Budget reports
Economic Outlook for Maldives
This report highlights the macroeconomic situation in 2017 and economic outlook for the medium-term. This report will look into the global and Maldivian economic prospects. The macroeconomic prospects for Maldives include the gross domestic product (GDP), inflation and the balance of payments of the economy.
Economic
Fiscal condition and outlook
Budget 2018 aims to build the nation, alleviate the socio-economic issues faced by the people, modernize and enhance the services provided by the government and to facilitate rising economic growth and investment in infrastructure development projects that would be most beneficial to the economy and the nation. The budget has been formulated with the view of rationalizing government expenditure and molding the fiscal system towards a balanced budget in the medium term.
Fiscal
Public Sector Investment Program
The Public Sector Investment Program (PSIP) comprise of the infrastructure development projects and their implementation plans. The PSIP projects are aimed at mitigating the socio-economic issues faced by citizens, islands and the economy as a whole and increasing economic opportunity. The desired outcome of these projects are to pave the way to increase national productivity and facilitate economic and social development.
PSIP
Revenue
Revenue

Government revenue is classified under four main headings – tax revenue, non-tax revenue and revenue from trust funds and grants.

It is estimated that the government would receive MVR 22.4 billion as revenue and grants in 2018, of which tax revenue constitutes the major item.

Tax revenue
TGST 26%
GGST 19%
Import duty 19%
BPT 18%
Others 9%
Green tax 5%
Tax revenue
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Expenditure
Expenditure

Government expenditure is made up of two main components; recurrent expenditure (expenditure incurred for the day-to-day running of the government and providing public services) and capital expenditure (expenditure on infrastructure projects and capital items such as machineries).

The estimated budget for 2018 is MVR 28.0 billion of which total expenditure is 24.9 billion . Of the total budget 57.4% is recurrent expenditure and 42.6% is capital expenditure.

Recurrent expenditure
Salary & Allowances 47%
Office 19%
Subsidy 12%
Pension 9%
Loans 9%
Recurrent expenditure
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Projects
Housing

In the government’s continuous efforts to provide housing to the public, the development of additional 6,000 housing units is expected to commence in 2018. 5,200 of these housing units are planned to be built in the Male’ region and 800 housing units are planed to be build in the Atolls. The projects are planned to be undertaken through contractor financing, of which 25% of the total project cost would be provided by the government as equity. A total of MVR 4,106 million is expected to be spent for these projects out of which MVR 580 million is estimated to be spent from the domestic budget.

In the government’s continuous efforts to provide housing to the public, the development of additional 6,000 housing units is expected to commence in 2018. 5,200 of these housing units are planned to be built in the Male’ region and 800 housing units are planed to be build in the Atolls. The projects are planned to be undertaken through contractor financing, of which 25% of the total project cost would be provided by the government as equity. A total of MVR 4,106 million is expected to be spent for these projects out of which MVR 580 million is estimated to be spent from the domestic budget.

Education
Digital education programme

In order to revolutionize the education system of the Maldives, MVR 47 million in 2017 and MVR 138.8 million in 2018 is expected to be spent through the government domestic budget. This project would substitute physical books and heavy bags with tablets for each student. In addition to the tablets, textbooks of grades 1 to 12 would be shifted to e-books. With this change, all teachers would also be provided with tablets.

In order to revolutionize the education system of the Maldives, MVR 47 million in 2017 and MVR 138.8 million in 2018 is expected to be spent through the government domestic budget. This project would substitute physical books and heavy bags with tablets for each student. In addition to the tablets, textbooks of grades 1 to 12 would be shifted to e-books. With this change, all teachers would also be provided with tablets.

Transport
Transport network

The development of 4 new airports is expected to take off in 2018 to improve the transportation network of the Maldives. MVR 336 million is proposed to be spent on these projects during the year 2018. Moreover, the China-Maldives Friendship Bridge is anticipated to be the completed in 2018 for which MVR 213 million has been budgeted for 2018. Further, a total of MVR 1,592 million has been proposed in 2018 for projects relating to the development of the runway and terminal of Velana International Airport.

Expenditure breakdown
Loans 77%
Domestic 23%
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Medical
Dharumavantha Hospital

MVR 50 million has been budgeted for the completion of the construction of 25 story building of Dharumavantha Hospital in 2018. An additional MVR 393 million has been budgeted for the procurement of capital equipment required for the hospital. Since it is expected that the hospital would be opened in 2018, MVR 370 million has been budgeted for its operating expenditure. The hospital would have a state of the art cardiology and physiotherapy facilities. To cater for health tourism, the hospital would hold executive healthcare rooms and apartments.

MVR 50 million has been budgeted for the completion of the construction of 25 story building of Dharumavantha Hospital in 2018. An additional MVR 393 million has been budgeted for the procurement of capital equipment required for the hospital. Since it is expected that the hospital would be opened in 2018, MVR 370 million has been budgeted for its operating expenditure. The hospital would have a state of the art cardiology and physiotherapy facilities. To cater for health tourism, the hospital would hold executive healthcare rooms and apartments.

Waste management
Waste management

It is expected that MVR 226 million would be spent on waste management during the year 2018. MVR 78 million of the total is expected to be spent on land reclamation and installation of an incinerator in Thilafushi for 2018. In addition, MVR 26 million is expected to be spent on waste management and procurement of equipment for waste management zone 1 and MVR 24 million on establishing a regional waste management system in Addu and Fuvamulaku City. 23% of the total expenditure on waste management would be spent through grants from international institutions.

Expenditure breakdown
Domestic 66%
Grants 22%
Loans 12%
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Map
Geogrpahic distribution of projects in 2014-2018
Project carried out in Male’ city and over multiple islands have been excluded
Budget App
Budget app

This app provides the budget of the government Maldives for 2018 in a convenient digital format, with graphs, growth statistics and currency conversion options.

This app includes details of government revenue and expenditure , and in addition provides comprehensive details on the public sector investment programs for the medium term.

This app provides the budget of the government Maldives for 2018 in a convenient digital format, with graphs, growth statistics and currency conversion options.

This app includes details of government revenue and expenditure , and in addition provides comprehensive details on the public sector investment programs for the medium term.