Highlights of President Muizzu's state of the nation address

The goal is to be achieved through the modernisation and expansion of the Zakat system with a Zakat House, which would be endowed with resources to generate an income and provide financial assistance to low-income individuals. 

As the most important government-sponsored legislation to be submitted during the first session of parliament, a constitutional amendment will be proposed to hold the presidential and parliamentary elections on the same day. A public referendum will also be called to revert the start of the presidential term to November 11. 

Key pieces of legislation to be proposed this year includes bills to change how the number of MPs is determined and change the composition of the 10-member judicial watchdog.

The overdue list of recipients for 4,000 housing units under construction in Hulhumalé will be announced by the end of February. Verification of the list compiled by the previous government was a “sensitive problem” that the current administration needed to resolve. 

As pledged in the 2023 presidential campaign, low-interest housing loans will be made available in July with applications now open through the online “Hiyavahi” portal. 

“With God’s will, this government will provide the benefit or assistance of MVR 1 billion (US$ 65 million) by the end of the year for regular beloved citizens to build a life,” Muizzu pledged.

GDP growth in 2025 is expected to be 6.4 percent.

A timeline was announced for easing foreign currency controls. By September, state-owned companies will be able to purchase US dollars at the official exchange rate instead of resorting to the parallel market. 

The amount of dollars supplied to banks for telegraphic transfers is to be increased in January 2026, followed by the doubling of the US$ 500 sold to all Maldivians travelling overseas in the first quarter of 2026. Credit card limits is to be raised to US$ 1,400 during the second quarter of 2026.

A large-scale project to develop floating solar panels and generate 100 megawatts of electricity for the national grid is to be completed by 2027. To be carried out in a Malé atoll lagoon, the project is the first under the 2014 special economic zones law, which relaxes regulations and offers tax breaks and other concession for foreign investments. 

An SEZ permit will be issued to the Canadian developer Abraxas Power Corporation this year. The technical partner of the project is Chinese company Sungrow Power Supply. 

Resort operators will be offered incentives to develop new properties in atolls outside the central region where the vast majority of the country’s high-end resorts are located.

After reaching a milestone of two million tourists last year, the government’s target for tourist arrivals in 2025 is 2.3 million holidaymakers. 

Maldivian airlines is due to welcome a second wide-body aircraft in October as part of plans to expand international operations. “As a result of this, the national airline will be able to start flying directly from the Maldives to some European destinations as well,” he said.

The Raajje Transport Link nationwide ferry network - a signature policy of the previous administration - will be completed this year. The ferry service with purpose-built speedboats is to  become operational in Raa and Baa atolls by July.

The new date for opening the Velana International Airport’s new passenger terminal is October 2025, the latest completion date after several deadlines passed in recent years. 

International airport projects launched in the northernmost and southernmost atolls by the previous government are also due to be completed in 2025. The current government plans to commence airport development projects in aa Alifu Dhidhdhoo; Shaviyani Milandhoo, Komandoo, Bileiyfahi, and Funadhoo; Raa Fainu and Alifushi; Baa Thulhaadhoo; Alifu Alifu Mathiveri; Faafu Nilandhoo; Thaa Guraidhoo and Vilufushi; Gaafu Alifu Villingili; Gaafu Dhaalu Kaadedhdhoo; and Laamu Kadhdhoo.

A bill will be submitted to parliament to establish a Public Defenders Office to offer legal representation for defendants without the means to hire private counsel. 

The construction of a Superior Courts Complex will begin this year to resolve space constraints faced by the trial courts. Other plans to streamline the judiciary include strengthening court administration and introducing pre-trial reformative justice processes.