State revenue will reach MVR 50 billion in 10 years: Pres. Solih
3 ސެޕްޓެމްބަރު 2023 | އާދީއްތަ 12:45The President noted that his administration's aim is to increase the sovereign fund of the Maldives to USD 350-400 million by 2026
President Ibrahim Mohamed Solih has stated that state revenue will reach MVR 50 billion in 10 years
State revenue will reach MVR 50 billion in 10 years, says President Ibrahim Mohamed Solih.
President Solih made this statement while speaking at the presidential debate held on Saturday.
President Solih went onto say that his administration will double the Maldivian economic growth. He noted that the size of the Maldivian economy was MVR 81 billion when he took to office and stated that the country's economy will be doubled to MVR 170 billion by 2028. He highlighted that the state revenue was at MVR 22 billion during his first year in office and stated that the revenue will increase to MVR 50 billion in 10 years.
The President also noted that his administration's aim is to increase the sovereign fund of the Maldives to USD 350-400 million by 2026. He stated that the country has enough dollars in its reserve and denied the rumors stating that there are no dollars in the country's reserve.
Noting that one should consider the state of the country over the past 20 years before casting their vote, President Solih stated that numerous tasks needed to be completed simultaneously when he took office in 2018.
He noted that his administration had to undertake projects such as installation of water and sewerage systems in 141 islands, providing electricity service to 152 islands, upgrading and developing new powerhouses, finding solutions for the transportation difficulties faced by 125 islands and providing ambulances to 127 islands during his first year in the office.
President Solih noted that his administration has provided the youth with more higher education and training opportunities, and highlighted the free degree program and scholarships awarded to students. He went onto say that these opportunities will help bring positive changes to the country.
He also noted that his administration has achieved pay harmonization, fixed minimum wage and service charge and has created equal opportunities for both genders.
Noting that Maldivian Foreign Service will see equal number of male and female Ambassadors, High Commissioners and staff, the President noted that 33 percent of his cabinet is female.
