Minister of Finance Ibrahim Ameer says the economic and financial situation of the Maldives is steadily improving, having been hit hard last year by the COVID-19 pandemic.
Speaking at an event held for the people of Haa Dhaalu Atoll as part of Maldivian Democratic Party (MDP)'s campaign for the local council elections, Finance Minister Ameer said 1.2 million tourists are expected to arrive this year, which will boost economy of the Maldives. The minister said the Maldives is recovering from the 2020 financial crisis caused by the COVID-19 pandemic, and the 1.2 million tourist arrivals will result in a 34% increase of the country's income compared to last year.
The finance minister also said the government is planning to begin large projects this year financed by a line of credit facilitated by India. He noted the projects awarded by the National Tender Board alone costs USD 777,000, compared to the projects worth USD 194,000 conducted last year. He added the projects planned for this year include developing water and sewerage systems as well as harbours in the islands.