President Dr. Mohamed Muizzu has announced a comprehensive economic reform agenda aimed at reducing government spending and supporting economic recovery over the next two years. The proposed measures are now scheduled for parliamentary approval in tomorrow’s session.
The agenda includes a 10 percent salary deduction for political employees over a two-year period. Additionally, President Muizzu has voluntarily decided to forgo 50 percent of his salary during the same period. Heads of state-owned companies will also face salary caps, with earnings restricted from MVR 100,000 to MVR 90,000.
The reform package further requests salary deductions for members of the judiciary, parliament, and employees of independent institutions to help balance government expenditure.
The President's Office has submitted the reform plan to Parliament, including a proposal to refer the matter to the relevant committee for a detailed review.
This initiative follows President Muizzu's previous announcement on October 23, 2024, emphasizing the urgent need for fiscal responsibility and government reforms to ensure sustainable economic growth.
The agenda includes a 10 percent salary deduction for political employees over a two-year period. Additionally, President Muizzu has voluntarily decided to forgo 50 percent of his salary during the same period. Heads of state-owned companies will also face salary caps, with earnings restricted from MVR 100,000 to MVR 90,000.
The reform package further requests salary deductions for members of the judiciary, parliament, and employees of independent institutions to help balance government expenditure.
The President's Office has submitted the reform plan to Parliament, including a proposal to refer the matter to the relevant committee for a detailed review.
This initiative follows President Muizzu's previous announcement on October 23, 2024, emphasizing the urgent need for fiscal responsibility and government reforms to ensure sustainable economic growth.
