President Ibrahim Mohamed Solih highlighted on Saturday that his government has diligently undertaken measures over the past five years to foster a resilient economy, envisioning a GDP of MVR 177 billion by 2028. During a special ceremony held in Addu Maradhoo, President Solih inaugurated the land reclamation project in Addu, emphasizing its significance in driving economic growth.
Addressing the attendees, President Solih stated that by the conclusion of 2028, the country’s economy is projected to double, signifying one of the most significant transformations that can be accomplished. He elaborated by indicating that the GDP stood at MVR 81 billion in 2018, and within five years, by 2028, it is expected to reach MVR 177 billion, with all necessary efforts already underway.
In his speech, the president acknowledged that the GDP at the end of the previous year did not meet the desired benchmarks, as government estimates placed it at MVR 92 billion by the conclusion of 2022. He highlighted the government’s initiatives to establish economic pillars in the northern and southern regions of the country, aiming to elevate the overall economy. The president specifically emphasized the significance of Addu as a crucial location for development and growth.
