President Ibrahim Mohamed Solih has revealed the revenue of the Maldives could double to almost USD3 billion by 2028. He made the remarks delivering the Presidential Address at the Parliament of Maldives.
In his address, President Solih shed light on the prosperous changes that would be visible in the country's economic growth and revenue by the end of 2028 due to the ongoing projects initiated by his administration. Moreover, the president recalled the country had witnessed the worst economic downturn over the past three years. He noted that economic activities had been halted due to the COVID-19 pandemic. He, however, noted that the current facts and figures indicate economic recovery due to the administration's foresight in mitigating the effects of the pandemic.
Furthermore, President Solih added the country is expected to see the arrival of 3.5 million tourists by 2028. which would, in turn, double economic growth due to the administration's planned and ongoing projects toward the development of the tourism sector. He stated that economic growth could be doubled and national productivity increased to USD11.4 billion within the next ten years, noting the national productivity was recorded at USD5.25 billion in 2018.
Moreover, President Solih stated the administration's current social, economic, and all other policies are geared towards achieving the target, which would result in an increase in people's incomes, an increase in job opportunities, a rise in new business ventures, and ensure a peaceful and prosperous society.