AGP Executive Report

Foreign Policy: President Mohamed Muizzu’s visit to Pakistan produced 20 cooperation agreements and a target to lift trade from about $13 million to $200 million in two years. The outreach broadens Malé’s options, though Pakistan remains a smaller partner than India and China. Public Finances: The government has proposed a MVR 59.7 billion budget for 2027, with the deficit forecast to exceed MVR 9 billion. Its targets include adding $100 million to reserves, while the president has called for 70% of the budget to be completed next year. Infrastructure: The final bridge segment connecting Vilimalé and Gulhifalhu is in place, a major construction milestone for the India-financed Greater Malé Connectivity Project; the bridge is not yet open to traffic. Climate and Work: An ILO study estimates heat stress could cost the Maldives about $576 million in annual GDP and reduce working time by the equivalent of 2,400 full-time jobs by 2040, underscoring the need for workplace protections and adaptation. Accountability: The MDP’s motion on the Rasmale’ project was rejected, while the project has also drawn calls for a public referendum. The president of the Maldives Media Commission has resigned amid broader debate over media conduct and safety.

Foreign Policy: A new analysis questions whether President Mohamed Muizzu’s Pakistan outreach can deliver real strategic options: the October visit produced 20 MoUs and a target to raise trade from about $13 million to $200 million, but Pakistan remains a much smaller partner than India or China. Trade and Investment: A Sanya delegation secured agreements to deepen Maldives-China cooperation in fisheries, aquaculture and yacht services, including plans to explore a yacht facility in Sanya. Public Finances: The proposed 2027 budget totals MVR 59.7 billion, with the deficit forecast to exceed MVR 9 billion; the government also aims to add US$100 million to national reserves. Infrastructure: The final bridge segment has linked Vilimalé and Gulhifalhu under the India-financed Thilamalé project, a construction milestone—not an opening to traffic. Jobs and Climate: The ILO warns workplace heat could cost the Maldives the equivalent of 2,400 full-time jobs and US$576 million in annual GDP by 2040, even under a low-emissions scenario. Media: The Media Commission president has resigned, while the commission has condemned threats and personal attacks against journalists.

Infrastructure: The final segment of the Thilamalé Bridge has linked Vilimalé and Gulhifalhu, a construction milestone on the India-backed project; the link is not yet open to traffic. Public Finance: The proposed 2027 budget totals MVR 59.7 billion, with a projected MVR 9.4 billion deficit. The government forecasts growth of 0.6–1.8% this year and 3.9–6.8% in 2027; President Muizzu says the budget will prioritize completing 70% of projects already handed over. Media Freedom: The Media and Broadcasting Commission condemned threats against journalists who joined an Eagle Hills trip, as debate over the Rasmale’ project continues. Muizzu has said the development will not reduce housing access for eligible Maldivians. Climate and Jobs: An ILO study projects workplace heat could cost the Maldives the equivalent of 2,400 full-time jobs and US$576 million in annual GDP by 2040.

Economic Outlook: The government forecasts 2027 growth of 3.9% to 6.8%, after cutting its 2026 projection to 0.6%–1.8%. Its proposed MVR 59.7 billion budget includes a MVR 9.4 billion deficit, with spending focused on public services and completing existing projects. Rasmale’ and Media: President Muizzu says the Eagle Hills development will not reduce housing opportunities, as concerns over the project continue. The Media Commission has condemned insults and threats aimed at journalists who joined an Eagle Hills media tour. Foreign Policy: Muizzu’s Pakistan visit produced 20 cooperation agreements and a trade target of US$200 million, raising questions about balancing ties with India. Climate and Jobs: ILO studies warn heat stress could cost the Maldives the equivalent of 2,400 full-time jobs and US$576 million in annual GDP by 2040, underscoring risks to workers and the economy.

2027 Budget: The government forecasts growth of 3.9% to 6.8% next year, after cutting its 2026 estimate to 0.6%–1.8%. Its proposed MVR 59.7 billion budget projects a MVR 9.4 billion deficit, while President Muizzu says the priority is completing 70% of projects already underway. Fiscal Reform: The budget would move Maldives Customs’ fiscal mandate to the Finance Ministry, which says the change will strengthen revenue collection and enforcement. Rasmale’ Project: Muizzu says the Eagle Hills development will not reduce housing access for locals and that the agreement will go to a parliamentary committee. The deal remains contentious amid concerns over its 99-year land lease. Foreign Policy: Muizzu’s Pakistan visit produced 20 cooperation agreements, including on defence and maritime security, sharpening debate over how the Maldives can broaden partnerships while maintaining ties with India. Security and Justice: Former defence chief Moosa Jaleel has been appointed head of the National Counter-Terrorism Centre. Former president Abdulla Yameen has also appealed to the High Court as his bribery and money-laundering trial verdict is delayed.

2027 Budget: Finance Minister Hassan Zareer presented a MVR 59.7 billion proposal, projecting a MVR 9.4 billion deficit as spending exceeds revenue by MVR 9.4 billion. President Muizzu says the priority is finishing 70% of projects already handed over; the budget also targets a USD 100 million rise in reserves. Security: Former defence chief Moosa Jaleel has been appointed head of the National Counter-Terrorism Center, replacing Wais Waheed; officials have not said whether Waheed resigned or was dismissed. Public Services: The government plans to dissolve the Malé City Group of Hospitals and bring public tertiary hospitals under one structure, citing lower costs and better coordination. Fiscal Oversight: Customs’ fiscal mandate is set to move to the Finance Ministry next year, as an audit found MVR 461 million in unpaid dues. Rasmale: Muizzu says the Eagle Hills project will not reduce housing access and plans to send its agreement to a parliamentary committee. Religious group Jamiyyathul Salaf has urged safeguards for national sovereignty and Islamic identity in major development deals. Legal Affairs: Former President Abdulla Yameen has appealed to the High Court as the verdict in his Fuggiri bribery and money-laundering trial is delayed.

Rasmale’ Dispute: President Mohamed Muizzu says he will send the Eagle Hills agreement to a parliamentary committee and open a related bill to public comment. He also insists only Maldivians and Muslims from abroad will live there. Opponents are planning a November rally to demand a referendum. Parliament and Justice: An opposition resolution seeks accountability for the Judicial Service Commission over the suspension and dismissal of justices after police found no criminal conduct. A government bill to criminalise genocide and economic sabotage has been withdrawn for further review. Budget and Local Government: The Finance Ministry is due to present the 2027 state budget to Parliament on Thursday. Separately, an MDP lawmaker says reclaiming 14 Malé properties from the city council threatens its powers and revenue. Media: Maldives Media and Broadcasting Commission chief Mohamed Farushath has resigned, citing obstacles to treating outlets fairly. Foreign Relations: Muizzu’s outreach to Pakistan is drawing scrutiny over its implications for India’s role in the region. At a China-Maldives investment forum, he pledged support for responsible investment; state fisheries company MIFCO also signed an agreement to explore fish exports to China.

Media Freedom: Maldives Media and Broadcasting Commission chair Mohamed Farushath resigned, saying there was no room to run the body fairly and citing obstacles to equal treatment of media outlets. His departure comes as the government revises rules for financial support to news organisations. Rasmale’ Dispute: A civic movement plans a November 6 rally demanding a referendum on the proposed waterfront and marina project; the MDP has also called an emergency meeting to decide its position. Parliament: A bill criminalising genocide and economic sabotage was removed from the sitting agenda for a second time, with no official explanation. Separately, MPs approved a rule requiring a preliminary vote before resolutions can be debated, prompting opposition concerns. Government and Economy: Muizzu told a China-Maldives investment forum the country is open to responsible investment, linking it to jobs, skills and economic diversification. Parliament has also advanced repeal of the 17% tax on overseas travel operators, a reversal that could forgo about MVR1.61 billion in expected revenue. Infrastructure: Work has begun shifting Malé port services to Thilafushi, with full relocation targeted for November 2027.

Rasmale’ Referendum: The “Dhivehinge Bin Dhivehinnah” movement plans a November 6 rally demanding a public vote on the $20 billion waterfront project, arguing the public must approve the deal. Genocide Bill: A proposed Penal Code amendment covering genocide and economic sabotage was removed from Parliament’s agenda twice, with no official explanation; critics fear its economic-sabotage provisions could constrain dissent over Rasmale’. Parliament: MPs have changed the rules so resolutions must pass an initial vote before debate, a move the opposition says could shut down scrutiny. Tourism Tax: A repeal of the 17% tax on overseas travel sellers is advancing in Parliament after industry objections; the reversal could forgo about MVR 1.61 billion in projected revenue. Port Relocation: The shift of Malé’s commercial port to Thilafushi has begun, starting with container-clearing services, as the government targets full relocation by November 2027. Pakistan Ties: During President Muizzu’s recent visit, the Maldives and Pakistan signed 20 agreements, including on defence and maritime security, and set a goal of raising trade to $200 million within two years.

Parliamentary Rules: The People’s Majlis has changed its Standing Orders so resolutions must win an initial vote before debate, prompting opposition concerns that proposals can now be blocked without scrutiny. Genocide Bill: A bill to criminalise genocide and economic sabotage was dropped from Tuesday’s agenda after being submitted. The Attorney General says the measure fulfils treaty obligations, while critics have questioned whether its economic-security provisions could restrict dissent. Rasmale’ Dispute: The MDP has called an emergency meeting for November 1 to decide its position on the proposed $20 billion Eagle Hills project, which has divided the opposition party amid concerns over land and lease terms. Oversight and Public Spending: Parliament’s Security Services Committee unanimously voted to summon the defence chief, police commissioner and other officials over oil tankers that entered the country illegally and a recent Funadhoo fire. The Public Accounts Committee is also reviewing state health insurance, including special coverage for MPs and other officials, as it considers ways to make the system more sustainable.

Parliamentary Oversight: MPs voted to summon senior defence and police officials over the oil-tanker incident and Funadhoo fire. Health Insurance: A parliamentary committee has begun a broader review of Aasandha and state-funded insurance after a petition challenged lawmakers’ special cover, saying reform should address benefits across public institutions. Legal Reform: A government-backed bill would criminalise genocide, treason and acts threatening economic security, and increase penalties for some offences against Islam. The attorney general says the genocide provisions fulfil treaty obligations. Rasmalé Deal: The ruling PNC majority rejected an opposition motion seeking disclosure of terms for the proposed $20 billion Eagle Hills project. Tourism Tax: Parliament accepted a bill to repeal the recently introduced tax on foreign tour operators and booking platforms, following industry objections. Foreign Relations: President Muizzu’s recent Pakistan visit produced 20 agreements, with the two countries also pledging to expand trade and pursue direct flights.

Rasmale’ Dispute: Parliament rejected an opposition motion seeking disclosure of the terms of the proposed $20 billion Eagle Hills project, voting 45–10 against it. Tourism Tax: MPs voted unanimously to consider repealing the tax on foreign tour operators and booking platforms; the bill now goes to committee, so the repeal is not yet final. Economic Rules: The Maldives Monetary Authority reminded businesses to meet foreign-currency conversion requirements by Wednesday, warning that non-compliant entities may be named publicly. Foreign Policy: The Maldives has backed UAE diplomat Lana Nusseibeh’s bid to become UN secretary-general. Muizzu’s recent Pakistan visit produced 20 agreements and a $200 million trade target, while former foreign minister Abdulla Shahid called for greater transparency. Public Spending: Opposition MPs say approved pay rises for senior officials could add MVR 40 million to annual state spending and are urging Parliament to reverse them.

Foreign Policy: Former foreign minister Abdulla Shahid warned President Muizzu could revive anti-India rhetoric ahead of the 2028 election and called for transparency over 20 agreements signed with Pakistan. The visit also set a $200 million trade target and plans for direct flights. Public Spending: MDP MPs want a reversal of proposed pay hikes for senior officials, saying they would add MVR 40 million a year as the budget deficit reaches MVR 4.5 billion. Rasmale’ Dispute: Lawyer Ali Hussain called the UAE-backed land deal unconstitutional, arguing that public land is being allocated to foreigners while Maldivians face a housing shortage. Business Support: The government says Addu businesses will receive tax and fee concessions for three years from January, while BML plans to let small firms accept overseas payments in US dollars from November 1.

Public Pay: MDP lawmakers are urging Parliament to reverse proposed salary and allowance increases for senior officials, warning they would add MVR 40 million to annual spending as the budget deficit widens. Rasmale’ Dispute: Lawyer Ali Hussain called the land deal with UAE firm Eagle Hills a blow to locals, arguing that allocating land to foreigners lacks a legal basis and worsens housing concerns. SME Support: President Muizzu says Addu businesses will receive three years of tax and fee relief from January, while BML plans to let small businesses accept overseas payments in US dollars from November 1. Foreign Relations: The Maldives backed UAE nominee Lana Nusseibeh for UN secretary-general. Muizzu’s Pakistan visit produced 20 agreements, with both sides targeting $200 million in trade within two years and pursuing direct flights. Opposition: MDP chair Mohamed Nasheed renewed calls for Muizzu to leave office, citing rising prices and economic pressures.

Opposition Challenge: MDP chairman Mohamed Nasheed called for President Muizzu to step down, saying rising prices and a lack of development show the government’s policies are failing. He claimed usable foreign reserves could cover less than two weeks of imports. SME Relief: Muizzu named Addu the first special economic zone, offering businesses three years of tax and rent relief from January. From November 1, SMEs can also accept US-dollar payments through BML’s gateway. Parliamentary Ethics: Former attorney general Ahmed Ali Sawad said MPs giving personal money to constituents amounts to bribery, amid a debate over lawmakers’ salaries and out-of-pocket spending. Foreign Relations: Former foreign minister Abdulla Shahid said India remains the Maldives’ only substantial source of foreign assistance, accusing the government of damaging international confidence. Muizzu’s Pakistan visit, meanwhile, produced 20 agreements and a target to raise bilateral trade to $200 million within two years. UN: Muizzu urged stronger support for small states and consistent application of international law, saying both are vital to trust in the United Nations.

Parliamentary Pay: A ruling-party MP says lawmakers’ salaries should be weighed against the money they spend helping constituents, as proposed pay and allowance increases spark debate. The Speaker’s salary is set to rise to MVR 95,000. Public Finance: Finance Minister Hassan Zareer says trusted institutions and sound accounting are key to the 2040 development vision; he also reports more than US$1.4 billion in debt repayments over two and a half years. Foreign Relations: The Maldives backed UAE nominee Lana Zaki Nusseibeh for UN secretary-general, while Indian naval ships concluded training with the Coast Guard and handed over spare parts for a Maldivian vessel. Pakistan Ties: President Mohamed Muizzu has returned from a state visit that produced 20 agreements, a two-year target to lift trade to US$200 million, plans for direct flights and a call to revive SAARC. Political Tensions: An opposition MDP activist has been remanded for 12 days in a terrorism investigation over alleged social-media calls for arson and looting. Flooding: Heavy rain has damaged 140 homes in Kulhudhuffushi, with flooding also reported elsewhere.