Dedicated to addressing budgetary issues while investing in Maldives’ future: pres.

The incumbent administration is dedicated to addressing budgetary issues while investing in Maldives’ future, says President Ibrahim Mohamed Solih.

The president made the statement after inaugurating the newly developed airport in Hoarafushi Island of Haa Alifu Atoll, on Thursday.

Acknowledging concerns over the country’s level of debt, Solih stressed that the “large debt was inherited by this administration from the previous government”.

Stressing that despite this his administration will “work with dedicated and qualified financial teams to address budgetary issues, while investing in the Maldives’ future”, the president noted that “now is not the time to limit the scale of the government’s ambitions”.

He added that the administration is keen on “going ahead with projects that will directly enhance the quality of life for [the] citizens”. He made these comments while seeking the parliament’s approval for the proposed state budget for the upcoming year.

While the government’s MVR 34.6 billion budget proposal was submitted to parliament last week, there have been concern over this especially as the president had noted, the country’s “large debt”.

However, President Solih described the proposed budget as “fiscally responsible and crafted to help the government overcome the economic challenges of the Covid-19 pandemic”.

Assuring the government’s commitment to “redoubling efforts to deliver on its major pledges at this critical juncture”, the president emphasized that the government “will ensure that its expenditure is geared towards investing in the Maldives’ infrastructural and human infrastructure, and social welfare schemes, including Aasandha”.

Under the proposed budget the Government plans to invest MVR 4 billion in the health sector; MVR 3.9 billion on education; MVR 3.7 billion on the social sector; and MVR 2.3 billion and MVR 1.8 billion on housing and infrastructure, and environmental protection, respectively.