Minister Ameer: Maldives amongst the top five countries recovering the fastest post-pandemic

Finance Minister Ibrahim Ameer has stated from the economies recovering the fastest in the world after the COVID-19 pandemic – Maldives is at second.

In a special interview given to PSM on the occasion of the third anniversary of the incumbent administration – Minister Ameer said that the positive results of the steps taken by the government to recover from the pandemic are evident even now.

On this note, Minister Ameer said that the Maldivian economy is amongst the top five ones recovering the fastest post-pandemic. He further stated that Maldives would climb up to the second spot on this list in the near future.

“IMF’s World Economic Outlook indicates that the Maldivian economy is the fourth fastest recovering. Our estimate is that with 32 percent, we will able to hail as the second fastest recovering economy,” he had said.

Minister Ameer said that this can only be achieved due to the measures taken by the government early on.

“We are at this point because of the issuance of income support allowance, assisting private businesses, giving debt moratorium, discounts on utility bills – with all these steps alongside the work done in collaboration with health sector frontliners in vaccination and such,” he detailed.

Nevertheless, Minister Ameer said even though the results are good, the strain on the economy experienced during the pandemic must not be forgotten.

In this regard, he stressed that the government experienced a loss of MVR 36 billion due to the pandemic.

“We lost a lot income because of Covid. Almost one year’s budget. That is about MVR 36 billion,” he had said.

“Proposing new revenue measures whilst proposing the budget every year is not something feasible for us. That is why businesses but be expanded further,” he added.

Minister Ameer said that additional resorts must be opened and the economy should further strengthen. He added that the efforts by the government to achieve the same will be evident from 2022 budget.