Maldives Monetary Authority (MMA) has stated development projects under Public Sector Investment Programme (PSIP) have not been implemented in the past as outlined in the proposed budget.
Speaking at a Budget Committee meeting, Executive Director of MMA Ahmed Imad stated the annual budget includes money for development projects but the works had not been carried out accordingly in the past three years. Imad noted as in the past years the budget for 2020 also includes a significant amount of money for PSIP projects.
The executive director said the biggest obstacle to implement the projects in the past was not having a comprehensive plan of action to carry out the work. He stated Ministry of National Planning and infrastructure was created to ensure that the proposed PSIP projects are implemented as planned.
The government has allocated over USD 660 million for PSIP projects in the annual budget 2020, the largest amount so far with the aim to build infrastructure in the country.