Minister of Finance Ibrahim Ameer has stated the Maldivian economy is expected to grow more than 12% within this year.
Speaking about the economy of the Maldives during the 4th Congress of the Maldivian Democratic Party (MDP), Finance Minister Ameer said the economy of the country will grow between 12-18% by the end of the year. The minister outlined the economic vision of the government and highlighted the initiatives completed so far. He said the government had provided assistance to businesses and sustained the economy during the two years of the COVID-19 pandemic. He said as a result of the efforts the Maldives was among the five fastest growing economies in the world.
Minister Ameer said that more than 4,000 jobs were created during the current administration via Maldives Transport and Contracting Company (MTCC) and Road Development Corporation (RDC) alone. He also revealed statistics from the job portal created by the current administration to aid in employability. He said that 39,297 individuals registered in the portal as job seekers and that 1,117 parties registered as employers. Ameer then talked about how the current government amended the legal framework to ensure better allowances for employees through the revision of minimum wages and service charge allocation.
Moreover, Minister Ameer highlighted the economic activities conducted across the country. The minister also explained the government is achieving a level that has not even been projected by previous administrations. As such, the minister highlighted four areas of structural development projects from 2008-2018, which include road construction projects, harbour construction and shore protection projects, the education sector, and water and sewerage projects. The minister noted only US$ 478 million worth of projects were conducted in these sectors during the 10 years from 2008-2018, adding, however, that the total value of the projects in these sectors. which are in various stages, exceeded US$ 1.26 billion in the last four years.
Minister Ameer highlighted other major economic visions of the government, which included the development of the Greater Male’ Connectivity Project, Addu International Airport, Hanimaadhoo International Airport, and Male’ Commercial Harbour Project.
