Finance Minister Ibrahim Ameer has revealed that the current administration has awarded 129 projects during it's first year.
Speaking on local channel Raajje TV on Monday, Minister Ameer said the previous government handed over 70 projects during its first year of administration. The current administration's 129 PSIP projects awarded thus far in its first year amounts to MVR 3.6 billion, said the minister.
"Since June this year, we have been awarding a large number of projects through the Tender board. If we take a look at what we have achieved this year, former government [of President Yameen] awarded 70 projects in 2014. Back in 2009, [during former President Moahmed Nasheed's tenure], 60 projects were awarded. Until the end of August, we have so far awarded 129 projects", said the Minister.
The Minister said all projects were awarded at significantly lower prices, and with a more competitive bidding process compared to the previous government.
"These are the numbers. This is the first year of this administration. While the year is coming to an end, we have 129 [awarded] projects. We can award all projects for which budget has been allocated. I believe the speed [of the administration] is just fine", said Ameer.
"We have lowered the cost of projects. Project that were awarded for 70 or 60 million in the past have been awarded for 25 or 30 million. This is with combining both water supply and sewerage system", he added.
Significant economic growth in 2020
Minister Ameer said although the economic growth of the archipelago has slowed down, it is expected to speed up when the new projects are implemented.
"MMA's report was on the last quarter of 2018 and the first quarter of this year. The economic growth fell from 4.1% to 3.1% since 2018. The same year, we had an election and a large number of projects were implemented that year. However, when the current projects are implemented, the economic growth will significantly increase. The GDP is expected to rise significantly in 2020", said Ameer.
Minister revealed several large projects planned for Addu City and the Gulhifalhu harbor project will commence around November this year.
"The Hulhule Airport Terminal work has now been restarted after a hiatus", said Ameer.
Awarded projects
Water supply and sewerage systems: 70 projects (~ MVR 1 billion)
Education: 25 islands, 26 projects (MVR 210 million)
Housing: 3 projects (MVR 151 million)
Harbor projects, coastal protection: 36 islands (MVR 1 billion)
Road development: 8 projects (MVR 161 million)
