Economic Minister Fayyaz Ismail has said that the upcoming days will provide a revolutionary change to the dollar rate as it will become cheaper due to policies implemented by this administration.
Minister Fayyaz made the statement at the MDP’s campaign commencement for Shaviyani Komandoo’s bi-election for its candidate Mohamed Raashid.
Minister Fayyaz also said that the government has made several efforts to assist businesses and workers during the pandemic and it was made possible due to the sharp thinking of the current administration. Moreover, due to the policies implemented to recover Maldives’ economy after the devastating effects of COVID-19 pandemic, positive changes will continue to happen to exchange rate as the dollar rate will be lowered to a stable rate.
However, he also added that there will be adverse effect to the nation’s economy due to the price inflation in the global economy as we heavily rely on imports but the government will do everything it can to limit the adverse effects.
Minister Fayyaz also responded to the criticism by the opposition that the government has failed to complete projects in a timely manner. He responded by saying 100 islands out of 180 inhabited islands currently have ongoing harbor development projects. Moreover, more than 100 islands have ongoing water and sewerage system projects with several projects to establish modern and efficient powerhouses.
He further added that the government has also made the internet more affordable and cheaper along with the introduction of minimum wage which will benefit more than 13,000 resort workers and 15,000 public sector workers.
Minister Fayyaz concluded his speech by saying he will not let the opposition twist the narrative of positive development this administration has brought in such a short space of time.