In a bold move aimed at addressing the country’s economic challenges, the President has announced a decision to reduce his own salary by 50% starting in 2025.
The announcement was made through a post on his official social media pages, outlining a series of measures designed to cut government expenditures.
The President emphasized that the upcoming 2025 budget will reflect a commitment to fiscal responsibility, stating that decisive steps must be taken to reduce government spending. He confirmed that he would take 50 percent of his salary starting next year for a period of 2 years.
Additionally, the President revealed that salaries for high-ranking officials will be reduced by 10 percent during the same period. This applies to employees in political positions and those working for government enterprises, excluding banks. He also indicated plans to seek similar salary reductions for Members of Parliament and staff in independent institutions.
Importantly, the President assured the public that employees earning less than MVR 12,000 will be exempt from these cuts, emphasizing a focus on protecting the lowest earners.
This unprecedented decision marks a significant shift in the government’s approach to salary structures, reflecting the urgency of implementing economic reforms to navigate the ongoing fiscal challenges. As the country braces for these changes, many are watching closely to see how they will impact both public services and the broader economy.
The announcement was made through a post on his official social media pages, outlining a series of measures designed to cut government expenditures.
The President emphasized that the upcoming 2025 budget will reflect a commitment to fiscal responsibility, stating that decisive steps must be taken to reduce government spending. He confirmed that he would take 50 percent of his salary starting next year for a period of 2 years.
Additionally, the President revealed that salaries for high-ranking officials will be reduced by 10 percent during the same period. This applies to employees in political positions and those working for government enterprises, excluding banks. He also indicated plans to seek similar salary reductions for Members of Parliament and staff in independent institutions.
Importantly, the President assured the public that employees earning less than MVR 12,000 will be exempt from these cuts, emphasizing a focus on protecting the lowest earners.
This unprecedented decision marks a significant shift in the government’s approach to salary structures, reflecting the urgency of implementing economic reforms to navigate the ongoing fiscal challenges. As the country braces for these changes, many are watching closely to see how they will impact both public services and the broader economy.
