Finance Minister Ibrahim Ameer has stated that the government has proposed a policy for next year that can solve the debt crisis.
While sharing information with the Parliament regarding the state budget projected for 2023, Ameer said that the most important part of the 2023 budget is to move toward fiscal sustainability.
Because of COVID-19 and the Ukraine-Russia war, the percentage of Maldivian debt increased too, said, Ameer. Therefore the policies proposed now will make it possible to carry out development projects without increasing the national debt, said Minister.
He added that in next year's budget, MVR 8.4 billion is allocated for PSIP projects, of which 4.2 billion is for funded projects. Ameer stated that these projects would take the country's economy to a new level. Out of these, he noted the Thila-Male' bridge, Port changing, water supply, and sewerage, and Hanimaadhoo and Addu Gan airport projects.
"These projects will triple the current 6 billion MVR economy," the Minister stated.
While sharing information with the Parliament regarding the state budget projected for 2023, Ameer said that the most important part of the 2023 budget is to move toward fiscal sustainability.
Because of COVID-19 and the Ukraine-Russia war, the percentage of Maldivian debt increased too, said, Ameer. Therefore the policies proposed now will make it possible to carry out development projects without increasing the national debt, said Minister.
He added that in next year's budget, MVR 8.4 billion is allocated for PSIP projects, of which 4.2 billion is for funded projects. Ameer stated that these projects would take the country's economy to a new level. Out of these, he noted the Thila-Male' bridge, Port changing, water supply, and sewerage, and Hanimaadhoo and Addu Gan airport projects.
"These projects will triple the current 6 billion MVR economy," the Minister stated.
