President Ibrahim Mohamed Solih has stated that Gross Domestic Product (GDP) is expected to reach USD11 billion and state revenue to USD2.9 billion by 2028. He made the remark at a campaign event held to unveil the economic policies of the main ruling Maldivian Democratic Party (MDP) for his second term.
Speaking at the event, President Solih highlighted that the economy of the Maldives depends on its tourism industry, and as such he will prioritise investment and development of tourism in his second term. He said he will work with the private sector to expand tourism and provide easy access to loans for those interested in starting tourism-related businesses.
Additionally, President Solih noted that airports are being developed to boost the tourism industry and that Velana International Airport (VIA) is being expanded to serve seven million tourists. He also said that Gan International Airport (GIA) and Hanimaadhoo International Airport (HIA) are being developed to service three million tourists.
Furthermore, President Solih said his administration aims to increase the number of tourist arrivals to five million. He said this will allow the GDP to reach USD11 billion and state revenue to reach USD2.9 billion. He also said that the government is taking loans with certainty and confidence in the country's developmental trajectory and its ability to meet repayment obligations.
Moreover, President Solih said various regions are being connected by domestic airports and Raajje Transport Link (RTL) high-speed ferry service as part of the efforts to develop the economy. He added that the relocation of Male' Commercial Harbour to Gulhi Falhu and other ongoing projects will create more jobs.