President Ibrahim Mohamed Solih has stated that the economy of the Maldives will double by the end of 2028. He made the remark while speaking at the ceremony held to commence the land reclamation project in Addu City.
At the ceremony, President Solih has said that the projects that have been initiated in the past five years show there are high hopes of building a strong economy. He said that the most significant change would be the doubling of the economy by the end of 2028. He detailed that the Gross Domestic Product (GDP) was USD5.3 billion in 2018 but is expected to reach USD11 billion in 2028 with the development of all regions of the Maldives.
Additionally, President Solih reaffirmed the administration's commitment to executing development projects as per the expectations of the people. He underscored the significance of the 67km road construction initiative in Addu City, highlighting the decision to use asphalt instead of the previously intended concrete in accordance with the wishes of residents.
Furthermore, President Solih emphasised that the key to a contented and prosperous life for citizens lies in the nation's development. He highlighted ongoing development initiatives in both the southern and northern regions, which are integral to a transformative economic change that commenced five years ago and is set to conclude in the next five years.