Since President Abdulla Yameen swearing to office, development projects carried out in Maldives have reached MVR 18 billion and with the inclusion of new projects in the upcoming year the cost will reach to MVR 25 billion according to Finance Minister.
Speaking at the budget assessment committee meeting on Saturday, Finance Minister Ahmed Munavvar said the incumbent government is carrying out development projects at a record amount previously not executed. According to Munavvar, currently a total of 430 separate development projects are progressing in Maldives while the inclusion of 95 more the next year, the figure will reach to 525.
Minister confirmed a total of MVR 7.1 billion will be invested in projects planned for next year with 38% of the development projects focusing on transportation which includes enactment of regional airports in several parts of the country.
Finance Minister had criticized the previous governments stating that past administrations had failed to carry out projects reaching MVR 9 billion or more while most of the projects were titles reflecting on files without apt work carried out and praised the incumbent government for proving efficient and result generating.
Munavvar also added the government will be attempting to increase the economical stability and public welfare. He also stressed that loans will be acquired for economy enhancement projects.
Finance Minister affirmed the current government will acquire loans with the certainty to clear the debt before due.
