President Dr Mohamed Muizzu has ratified the First Amendment to the Fiscal Responsibility Act (Act No. 30/2024).
The amendment was passed by Parliament at the 27th sitting of its third session of 2025, held on Monday, 1 December 2025.
Under the amendment, a Fiscal Responsibility Charter must be formulated, approved, and published in the Government Gazette within 24 months of the Act coming into force. It further provides that, during this period, the implementation of measures arising from the Charter, as well as the requirement to conduct feasibility studies prior to the inclusion of Public Sector Investment Programme (PSIP) projects in the State Budget, will not be mandatory.
With the President’s ratification and publication in the Government Gazette, the amendment has now come into effect.