The Maldives Ministry of Finance and Planning used the Maldives MSME Awards 2025 to set out recent fiscal reform outcomes and current measures intended to support small and medium enterprises (SMEs) across the country. Finance and Planning Minister Moosa Zameer linked the government’s fiscal consolidation agenda and investment programmes to job creation and revenue generation driven by micro, small and medium enterprises (MSMEs). Key fiscal metrics cited included a reduction in the fiscal deficit from 9.9% of GDP in 2024 to a projected 5.5% in 2025, expenditure management within the approved budget without a supplementary budget, and a budget surplus maintained for 40 consecutive weeks. The Minister also referenced repayment of a USD 100 million sovereign bond and the Sovereign Development Fund exceeding USD 100 million in liquid balance, alongside renewable energy investments, increased fiscal transfers to councils, and completion of more than 1,300 government projects via state-owned companies. Structural and debt-management initiatives highlighted included listing the country’s first conventional sovereign bond on the Maldives Stock Exchange, preparations for a Sharia-compliant listing, and ongoing work on the Medium-Term Debt Strategy for 2026–2028. On domestic participation and MSME support, the Minister reported more than 200 contractor-finance agreements worth MVR 2.7 billion awarded to 53 Maldivian contractors and plans to increase local involvement in real estate and construction. Targeted MSME initiatives included a USD 40 million SME Impact Fund established with the Islamic Development Bank Group, with an initial USD 10 million tranche being disbursed through SDFC, alongside planned reforms to council block grants, procurement processes and digital payment systems.

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