President Dr Mohamed Muizzu says the government's National Development Master Plan is in its final stages, describing it as a roadmap to ensure balanced and equitable development across every region of the Maldives.
Speaking during PSM News' programme Nation Chat, President Muizzu said the master plan is designed to decentralise development by expanding opportunities across all inhabited islands rather than concentrating growth in the capital, Malé.
The President revealed that the first draft of the master plan is almost complete. A stakeholder validation workshop involving relevant sectors will be held before the document is finalised and released in November.
Highlighting the administration's development record, President Muizzu said 590 projects have been completed during the first two years and eight months of the current government. He noted that, over the same period, the previous Maldivian Democratic Party administration completed 285 projects, while the administration before that completed 321.
He also said work is currently underway on 1,635 projects nationwide, significantly exceeding the number undertaken by previous governments during comparable periods. According to the President, the former administration had 414 ongoing projects, while the administration before it implemented 355.
President Muizzu said all projects are being carried out under a structured implementation plan that aligns development priorities with budget allocations, cash flow management, loan servicing and debt repayment.
He added that the government is working to complete children's parks and outdoor gyms on every inhabited island, describing it as an achievement that has never before been realised nationwide. Fitness centres and waste management facilities are also expected to be completed well before 26 July 2028.
The President said the National Development Master Plan will also support the implementation of the government's manifesto commitments, with the broader goal of expanding the country's economy and enabling the Maldives to achieve developed nation status by 2040.
Meanwhile, the Ministry of Finance and Public Enterprises has reported continued growth in state revenue during the current fiscal year.
According to the Ministry, government revenue and grants reached USD 1.56 billion as of 23 July, representing 60 percent of the projected USD 2.62 billion expected for the year.
The figure marks a 10.9 percent increase compared with the same period in 2025, driven mainly by higher tax collections.
Tax revenue totalled USD 1.19 billion, reflecting a 12.1 percent increase year-on-year. Goods and Services Tax remained the government's largest source of tax income, generating USD 648.51 million, up 9.7 percent from the previous year.
Within GST collections, General GST rose by 13.6 percent to USD 201.04 million, while Tourism GST increased by 8 percent to USD 447.47 million.
Government expenditure also increased during the period. Recurrent and capital spending reached USD 1.65 billion, a 19.7 percent rise compared with the same period last year.
The increase was mainly attributed to higher spending on salaries and wages for civil servants, which climbed to USD 551.23 million, increased expenditure on the Aasandha national health insurance scheme, which reached USD 77.82 million, and subsidies, which surged to USD 207.52 million amid rising global oil and commodity prices linked to the ongoing conflict in the Middle East.
Despite the increase in expenditure, the government's fiscal position remained positive on a primary basis, recording a surplus of USD 97.28 million. However, the overall fiscal balance showed a deficit of USD 90.79 million.
