The President has said that cutting government spending will be a priority in next year’s budget.
President Ibrahim Mohamed Solih made the statement while addressing the nation at a special ceremony marking the 55th Republic Day tonight.
The President said the government and the people have overcome the economic abyss caused by COVID-19 and the subsequent Russia-Ukraine war. However, this is a difficult time for the whole world and the Maldives is also having its effects, he said, adding that the negative impact of these events is greater than the statements made by various parties for political purposes.
He said measures to reduce government expenditure have been given priority in next year's budget. However, the measures will be taken in a manner that minimizes the adverse impact on the people and the economy, he said.
Further in his speech, President also highlighted the economic activities in the past four years and some of the progress achieved in the field.
President Ibrahim Mohamed Solih made the statement while addressing the nation at a special ceremony marking the 55th Republic Day tonight.
The President said the government and the people have overcome the economic abyss caused by COVID-19 and the subsequent Russia-Ukraine war. However, this is a difficult time for the whole world and the Maldives is also having its effects, he said, adding that the negative impact of these events is greater than the statements made by various parties for political purposes.
He said measures to reduce government expenditure have been given priority in next year's budget. However, the measures will be taken in a manner that minimizes the adverse impact on the people and the economy, he said.
Further in his speech, President also highlighted the economic activities in the past four years and some of the progress achieved in the field.
