Minister of Finance Ibrahim Ameer has predicted that the Gross Domestic Product (GDP) of the Maldives will reach USD6.9 billion by the end of the current administration. He made the remark at a campaign rally held by main ruling Maldivian Democratic Party (MDP) in Gadhdhoo, Gaafu Dhaalu Atoll.
At the campaign rally, Minister Ameer noted that GDP was at USD5.3 billion when the current administration took office and that GDP would have reached USD9 billion if the administration had not been hindered by the COVID-19 pandemic. He, however, said that the administration was able to maintain the economy during the pandemic and increase the usable reserve to USD177 million, despite the GDP contracting to USD3.7 billion.
Additionally, Minister Ameer said the post-pandemic tourism boom and the administration’s assistance to the public and businesses during the pandemic were the reason for the rebuilding of the economy today. He detailed that the government provided USD27 million as income support to 22,946 individuals and USD24 million as front-line allowance to 18,365 people. The government also provided USD24 million to 2,133 small businesses and USD9.5 million to 419 large businesses.
Furthermore, Minister Ameer said that the country's GDP will reach the highest ever recorded by the end of the year. He said the administration aims to increase the GDP to USD11 billion by 2028 and that the development of air transport will play a large role in this initiative. As such, he said that the results of the development of the airports and infrastructure development in the atolls will be seen in the increase in GDP.