President Ibrahim Mohamed Solih has revealed USD 200 million has been added to the national reserve since he assumed office last November.
Speaking about the pledges fulfilled as part of the first 100-days pledge policy of the administration, President Solih highlighted significant improvements have been brought to the national reserve in a short span of time. Speaking in this regard, the president noted the national reserve was at USD 592 million at the end of October 2018, which increased to USD 757 million by the end of 2018. Noting the usable reserve has also been increased, the president revealed the national reserve was at USD 805 million by March 20.
The president cited the increase in national reserve to the progress made by the tourism industry and the overall economy of the country. He further added the grant aid received by the state has also increased during the period.
Furthermore, President Solih said the citizens are obliged to know the financial situation of the country. The president said as part of the efforts to ensure a transparent and a responsible state, Ministry of Finance has been publishing a weekly financial review of the country. He noted corruption as the main obstacle to the political arena, judiciary and the economy of the country. He said Maldivians should be against acts of corruption to ensure the development of the country.