Economic situation in Maldives improving, no concern of not being able to pay debt: Finance Minister

Minister of Finance Ibrahim Ameer has stated that the Maldives' economic situation is better than previously expected, and there is no concern that the nation will not be able to pay its debts.

He made these remarks while speaking at the press conference held at the President’s Office on Thursday.

The Minister of Finance briefed the media on the economic situation in the Maldives and provided statistics on recent economic developments, state revenue, and medium and long-term plans of the administration.

During the press conference, the Minister also discussed managing the public debt and loan repayment. He also highlighted the reports published by international financial institutions about the Maldives and stated that the country maintained its status in the Fitch Rating report.

Minister Ameer stated that the Maldivian economy has improved since Covid-19 and that the state's revenue is improving, and that the plans to lower the debt in relation to GDP are being achieved. He also noted the administration’s plans for the next year include managing the state budget without depending on foreign grants. He also said that preparations were underway to present the proposed state budget to parliament for next year.

The press conference also saw Spokesperson at the President’s Office, Miuvaan Mohamed, updating the media on the latest progress of the government’s activities and plans for the coming week.