Ministry of Finance and Treasury has stated that the country’s usable financial reserve has increased to US$ 300 million.
According to the monthly statistics published by Finance Ministry, the current usable reserve is US$ 317.9 million. This is a huge upsurge when compared to 2013's reserve, which was at US$ 110.7 million.
The monthly economic index further shows that the gross reserve is currently at US$ 756.3 million. In 2013, the amount was at US$ 368.3 million.
This is the first time the usable reserve of Maldives has exceeded US$ 300 million.
During this year's presidential address at the Parliament, President Ibrahim Mohamed Solih vowed to increase the reserve to US$ one billion by the end of his term.
