President Dr. Mohamed Muizzu has announced the implementation of a comprehensive policy aimed at cost reduction, revenue growth, and the development of a medium-term revenue strategy. This decision comes after extensive discussions during the latest Cabinet meeting, where a detailed paper was presented by the Ministry of Finance.

The new policy focuses on streamlining government expenses while identifying and fostering new sources of revenue. As part of this initiative, President Muizzu has established a Cabinet sub-committee dedicated to overseeing the diversification of the Maldivian economy and exploring various avenues for revenue growth.

This strategic move is designed to strengthen the financial stability of the Maldives, ensuring sustainable economic growth and resilience in the face of future challenges.