Minister of Finance Ibrahim Ameer has stated over USD 564 million worth of projects have been contracted by the government over the past two years.
Speaking to PSM News, Finance Minister Ameer said the government has been implementing several plans to ensure the economy does not collapse, despite the challenges of the COVID-19 pandemic. In this regard, he said the government has continued to award projects across the Maldives in order to keep economic activities running and maintain GDP.
The finance minister said USD 564 million worth of projects have been contracted by the government over the last two years, including USD 214 million worth of projects in 2020. The minister noted the government’s contracting policies have also been revised to ensure projects are awarded to as many contractors as possible, rather than awarding many projects to one contractor. He added the awarding of projects to many contractors also improves the speed of projects.
Maldives suffered severe economic consequences due to the COVID-19 pandemic, with the closing of borders shutting down tourism operations for more than three months and blocking the main source of income to the country. The construction industry also suffered major blows, with most infrastructure development coming to a halt amid the lockdown imposed last year.