President Dr. Mohamed Muizzu has decided to implement a policy focused on cost reduction, revenue growth, and a medium-term revenue strategy, following recommendations from his Cabinet.
The decision was reached after thorough discussions on a bill presented by the Ministry of Finance during the latest Cabinet meeting.
In addition to this policy implementation, the president assigned a Cabinet subcommittee to oversee and facilitate efforts aimed at diversifying the Maldivian economy and exploring avenues for revenue growth.
While the government continues to exert efforts to reduce the state expenditure and increase the revenue obtained, President Dr. Muizzu stated that all expenses incurred will be covered without currency printing.