Since taking office, President Muizzu highlighted that MVR 6.6 billion has been distributed to small and medium enterprises.
President Dr Mohamed Muizzu has said that millions in unpaid bills from the previous government have been cleared, with all bills under MVR 5 million now paid.
Speaking at the Republic Day official ceremony, President Muizzu stated that bills over two weeks old, and under MVR 5 million, have been settled.
“We have paid the bills which are over two weeks old and under five million,” he said.
Last week alone, MVR 501 million was allocated to settle such bills, owed to small and medium-sized enterprises contracted for work.
Since taking office, President Muizzu highlighted that MVR 6.6 billion has been distributed to these businesses, rather than to State-Owned Enterprises (SOEs).
"In the last 51 weeks and two days, the MVR 6.6 billion was not given to SOEs, but to small and medium enterprises," he said.
The President also emphasized efforts to enrich the public, stating that the government is committed to ensuring people receive the money they deserve.
He highlighted that when the current government took over, the Sovereign Development Fund had just USD 2 million, but now it has grown to USD 78 million, with continuous deposits and withdrawals for various purposes.
The government is also pursuing various initiatives to strengthen the economy, including agreements with China and India, the launch of a bunkering service, and the bill for an International Finance Service Authority, soon to be sent to parliament, President Muizzu said.
The establishment of free trade agreements, the airport project, and the introduction of digital currency are expected to further boost the economy, he added.
The President also added that the economic agenda is being implemented at a swift pace.
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