The revolutionary economic policies of the incumbent administration will double the earnings of the state in the future, says President Ibrahim Mohamed Solih.

The president made these remarks in his address to the public in commemoration of Republic Day, on Saturday morning.

The archipelago nation became a republic in 1968, after many years as a monarchy and celebrates its Republic Day on November 11 each year.

As such, speaking to the public the president noted that his administration has brought revolutionary economic policies despite the challenges posed by the Covid-19 pandemic.

He added that these economic policies will help double the state's earnings in the future.

Shedding light on the economic challenges that surfaced for the Maldives and the rest of the world during the Covid-19 pandemic, President Solih stated that the government made several resolute efforts to ensure essential needs of the people were fulfilled and development projects continued without interruption, throughout the Covid-19 crisis.

In addition to this, he stated that Maldives was one of the first countries to fully vaccinate its whole population and was also among the first countries to open its borders.

Emphasizing the notable progress achieved in recovering tourism and the economy to pre-recession levels, the president stated that some of the remarkable achievements that strengthened the economy of Maldives during his administration include projects such as the construction of the new terminal at Velana International Airport (VIA), Hanimaadhoo Airport, Gan International Airport, and land reclamation projects in southernmost Addu.

He further noted that the fisheries industry is one of the country's vital economic sectors, adding that there was a lack of focus on developing a sustainable fishing industry before. However, his administration has made significant investments in the fisheries sector.

The administration has made significant strides towards equitable development across the entire Maldives, including enhancing the quality of life for citizens and empowering them to lead dignified lives, under the capable leadership of President Solih.