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Maldives economy to double by 2028: President Solih

Mohamed Rehan
05 June 2023, MVT 15:12
President Ibrahim Mohamed Solih officially inaugurates Addu land reclamation project-- Photo: President's Office
Mohamed Rehan
05 June 2023, MVT 15:12

President Ibrahim Mohamed Solih has stated that doubling the country’s economy in the next five years will be the most significant short-term impact on the nation.

While inaugurating the large-scale land reclamation project in Addu City, President Solih said that the administration’s work during the current five-year period and the planned work for the next five-year period are aligned.

"The biggest short-term impact by the end of 2028 will be to double up the Maldivian economy. The Gross Domestic Product (GDP) of the Maldives five years ago, in 2018, stood at MVR 82 billion," President Solih said.

"The Maldives GDP is expected to reach MVR 177 billion by the end of 2028."

President Solih further said that the government has already initated its work for the five-next year period.

President Solih reiterated the importance of collective development for the Maldives, highlighting that Addu City is at the forefront of any progressive and positive change in the Maldives.

“Today we witness this progress. Today marks the beginning of the positive developmental change in Addu City,” President Solih said.

He said that the MVR 1.5 million project includes reclamation of 190 hectares of land in Addu City.

President Solih said that the land reclamation project in Hulhumeedhoo will add 42 hectares of land to Addu City at the cost of MVR 179 million. He emphasized the role of Addu citizens in bringing these development initiatives to the City.

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