President Dr. Mohamed Muizzu has decided to take only 50 percent of his salary, for two years.

The president made this announcement via social media platform ‘X’, on Wednesday.

As such, his post reads that when presenting the state budget for 2025, many measures were decided to be taken in a bid to reduce state expenditure under the economic reform agenda.

In this regard, the measures that have been decided to be taken for a period of two years regarding salaries include reducing 10 percent of the salaries of those in political positions, reducing 10 percent of the salaries of employees of state-owned companies except banks, and setting a maximum salary of MVR 90,000 for company executives.

He also noted that some companies currently have salary structures that allow for salaries exceeding MVR 100,000.

Additionally, the president said that he would propose to relevant authorities to reduce 10 percent of the salaries of heads of independent institutions, and will request a 10 percent reduction in the salaries of senior judiciary officials and members of the People's Majlis.

Further, he stated that those earning less than MVR 12,000 would be exempt.

He added that he would only take 50 percent of his own salary.

Shedding light on the island nation’s poor financial state, the president earlier announced the decision to dismiss 228 political appointees.

However, some have been alleging that after dismissing these individuals from their positions, they are being appointed to other positions.