Economic Minister Mohamed Saeed has said that several important projects of the current government will be executed in a manner that does not increase state debt.
In an exclusive interview with Mihaaru News, Minister Saeed emphasized that the government places significant importance on implementing important projects in the Maldives. However, these endeavors will be undertaken in a manner that avoids an increase in the debt burden, he said.
"We will plan things so that we don’t have place more burden on the country’s debt," he said.
Minister Saeed said that efforts are being made to make the country's economy a trusted economy both in Maldives and abroad. When this government took over, the economy was in an unprecedented dire situation, he said.
The minister said he aims to build investor confidence to boost the economy and create a favorable environment for progress. The government is also planning several initiatives to address the dollar issue, he said.
"When we took over, we were working to address the issues of usable reserves and the budget shortage," he said.
We are also in the process of raising USD 200 million for Maldives Monetary Authority (MMA) reserves and it will be done through a loan or grant," he said.
Adding that the previous government did not do enough to improve the reserve, the minister said that he plans to open the airport terminal and reopen stalled resorts to increase state revenue.
The government aims to open the terminal at Velana International Airport by September next year.
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