The address was delivered on Thursday morning during the first sitting of the first session of the 20th People’s Majlis.
The President's Office
President Dr Mohamed Muizzu has inaugurated the 2026 session of the People’s Majlis and delivered the Presidential Address, in accordance with Article 84 of the Constitution.
The address was delivered on Thursday morning during the first sitting of the first session of the 20th People’s Majlis.
Article 84 of the Constitution requires the President to address the Parliament during the opening session each year, outlining national progress and highlighting key areas that require further policy attention and institutional strengthening. During the Presidential Address, President Dr Mohamed Muizzu highlighted key milestones, projects, as well as plans of the administration.
90 Islamic sector projecrs carried out in 2025; eight mosques to be inaugurated by Ramadan
During the address, President Dr Mohamed Muizzu announced that 90 projects in the Islamic sector were carried out last year, and that eight mosques across various parts of the country will be inaugurated ahead of the upcoming month of Ramadan.
He noted that the 90 projects included the construction of 74 mosques, seven Islamic centres, three Holy Quran centres, and six Waqf buildings. In addition, the Islamic Centre in HA. Dhidhdhoo has been completed, while mosque construction on 10 islands has also been finalised. Emphasising preparations for Ramadan, the President stated that special priority had been given to renovating mosques that will be in use during the holy month. He noted that more than MVR 19 million was spent on mosque renovations nationwide last year, with a further MVR 15 million allocated for the same purpose this year.
As part of the Government’s efforts to further promote devotion to and memorisation of the Holy Quran, the President said initiatives were launched last year to establish a Holy Quran Centre on every inhabited island by 2028. He also announced that construction of a Waqf building in Malé, aimed at supporting Quranic education through a sustainable financing system, will commence this year.
The Governments dedicated work to protecting the pillars of the national identity
President Dr Mohamed Muizzu has stated that protecting the pillars of our national identity is a national duty; one that he will carry out with joy and without a moment's weariness.
Highlighting key initiatives already underway, the President announced that practical work has begun on developing Level 3 National Occupational Competency Standard training packages for several endangered crafts. He further stated that training centres will be established this year: a lacquer work centre in B. Thulhaadhoo, a handicrafts centre in Dh. Rinbudhoo, and a mat weaving centre in Gd. Gadhdhoo.
Additionally, the President noted that the Interactive immersive museum will be completed and opened to the public within the year, and that a nomination dossier has been submitted for the inscription of Maldivian coral stone mosques and traditional stone masonry on the UNESCO World Heritage List. Moreover, the Presidential Address also highlighted ongoing research efforts to establish a scholarly community for heritage, alongside national heritage projects being implemented in H.A. Utheemu, Thakandhoo, and Baarah.
Freeing Maldivian people from the burden of legacy debt
President Dr Mohamed Muizzu has stated that the Administration remains committed to freeing the Maldivian people from the burden of legacy debt, while pursuing sustainable solutions to ensure stronger and more resilient financial outcomes for the nation. He noted that the country’s official gross reserves have surpassed USD 1.13 billion, the highest level recorded in Maldivian history.
He stated that state revenue and grants in 2025 increased by 12 per cent compared to 2024. Based on current economic performance and growth trends, the President projected that total State revenue and grants for 2026 would reach MVR 40.4 billion. Highlighting improvements in external earnings, the President said the Maldives generated USD 1.2 billion in foreign currency revenue in 2025. He noted that this growth enabled increased allocations to the Maldives Sovereign Development Fund (SDF) and contributed to the strengthening of official reserves. He further stated that, following the implementation of new foreign exchange regulations, USD 492 million was exchanged through the Maldives Monetary Authority (MMA) between January and December 2025.
Addressing fiscal discipline, the President noted that the 2025 State Budget was the first budget passed by the current People’s Majlis, and that the fiscal year concluded without the need for a supplementary budget – a milestone achieved for the first time in five years. For 2026, President Dr Muizzu confirmed that, in addition to projected state revenue, USD 100 million has been secured as non-tax revenue, which is expected to be received within the next 45 days.
The Government pad MVR6.3 billion to businesses
President Dr Mohamed Muizzu has stated that, in the past year alone, the Government disbursed MVR 6.3 billion in payments to local businesses for services rendered.
Referring to measures taken to address payment delays to small and medium-sized businesses, the President stated that MVR 882 million had been disbursed to State-Owned Enterprises to settle long-standing unpaid obligations that had accumulated over the years as so-called “legacy” bills. He further noted that the Administration had directly paid an additional MVR 1 billion to clear the debts of State-Owned Enterprises.
The President also noted that the airport clearance period for imports has been extended from 80 hours to 124 hours, providing a boost to businesses. In line with this objective, demurrage fees have been waived, and storage periods at Malé and Hulhumalé Ports have been increased from five days to ten days. Additionally, the President also announced that registration fees for small and medium-sized cafés and restaurants will be halved for the next two years, and that measures would be introduced to exempt companies employing fewer than 20 expatriate staff from annual quota fees, effective from March 2026.
