President Dr Mohamed Muizzu has announced that the 2026 budget will be submitted to Parliament before the end of this week. He stated that the budget will focus on establishing a more compassionate social protection system, backed by the local councils.
The announcement was made while addressing residents of Olhuvelifushi, as part of his ongoing visit to the inhabited islands of Faadhippolhu.
The President said that the budget would take into account the island’s development goals, incorporating the projects signed today, as well as planned projects and existing pledges.
He explained that following the dissolution of Atoll Councils through a legislative amendment, the resulting surplus funds will be allocated to mandate Island Councils to provide essential assistance to individual citizens requiring social protection, directly through the council's budget. He stated that the Administration places equal emphasis on social protection and island development projects, adding that this commitment would become evident at the individual level in the coming year.
The President addressed the projects directly related to the development of Olhuvelifushi. In this regard, he highlighted the stability of the island’s power grid as its most pressing concern. He emphasised that the successful implementation of many planned development projects is contingent upon the grid’s stabilisation and reaffirmed the Administration’s commitment to supporting Fenaka in resolving the issue. He further stated that the President’s Office will closely oversee the progress, with the objective of achieving a complete resolution prior to the next Ramadan.
He identified the harbour development project as one of the most significant initiatives and noted that an additional 15 hectares of land will be added to the island upon the completion of the land reclamation project. During his visit, the President witnessed the signing and inauguration of several development projects.
The President concluded by reiterating his pledges to the residents, which include major improvements to the island’s education and sports sectors.