Genuine Progress made in Growing the Maldivian Economy: PO

The President’s Office has said that genuine progress is being made in growing the Maldivian economy.

A statement released by the President’s Office said that recent positive economic assessments of the Maldives by recognised international financial institutions, such as the positive credit ratings given by Moody’s, are a testament to the sound policies of this Administration, which in turn is attracting large scale foreign investments from all corners of the world.

“The Administration reasserts the continuing success of the Maldivian economy, gained during a challenging period globally for emerging economies. Major investments from 2016 alone will attract upwards of $1.48 billion in initial investments within the next five years with 2017 projections for economic growth at 4.7% and estimated state income at $1.42 billion,” the statement said. “64,000 jobs have been created in the Maldives in the last 3 years with the Administration’s pledge of 94,000 jobs by the end of this presidential term well within sight.”

The redevelopment of Velana International Airport, the gateway to the Maldives, is now underway while the Malé Port has seen significant upgrades, the statement added.