Minister of Finance Ibrahim Ameer has stated confidence in the economic and fiscal policies formulated by the government has been reinforced through the support expressed by international financial organisations. He made the statement in a tweet posted after the World Bank and the International Monetary Fund (IMF) welcomed the decisions taken by the government to strengthen the economic and fiscal standards of the Maldives.
In his tweet, Finance Minister Ameer said the support expressed by the World Bank and IMF to the government’s fiscal and economic policies is a major boost towards the efforts to manage and strengthen the Maldivian economy. He said it also reinforces confidence in the government’s fiscal and economic policies.
The finance minister noted important actions are to be implemented under the 2023-2025 fiscal strategy, to ensure economic and fiscal sustainability and to increase modes of state revenue. He added details of these actions have been shared with international financial organisations.
The finance minister further noted the increased rates of Goods and Services Tax (GST) and Tourism Goods and Services Tax (TGST), as well as the revised policy for subsidisation and the reduced dependency of state-owned enterprises on the state budget are key elements towards improving the economic situation of the Maldives. He said the government will continue to heed the advice of international financial organisation in managing the economy, just like it has done in overcoming the COVID-19 pandemic.