President Ibrahim Mohamed Solih has vowed to end his second term with a surplus budget after substantially increasing revenue if he is re-elected in September.
Speaking at a campaign rally in Thaa Gaadhiffushi today, the president said the government is carrying out projects on various islands in order to double the size of the economy. He noted projects such as airports, harbors and the Raajje Transport Link (RTL) public transport service.
"The economy will be doubled from 2018 to 2028 and God willing we will take the size of the economy above MVR 170 billion," he said.
State income has started to increase with economic growth and increased business activity, he said. Revenue would grow beyond MVR 45 billion by 2028 with a target of reaching MVR 50 billion, he added.
"As a result, the state will have the funds to do the work that we want to do. And God willing, the budget we propose in 2028 will be a balanced or surplus budget," he said.
The budget surplus goal of the Maldivian Democratic Party (MDP) and allied parties could only be achieved if a second term is secured and the current government's policies could be maintained, the president said.
State revenue this year is MVR 32 billion. Government spending is projected to reach MVR 40.5 billion and public debt is expected to stand at MVR 101 billion by the end of the year.
The president's response to criticism over debt
The president responded to opposition criticism over the national debt on Sunday as well. Opposition candidates have been making pledges on every island they visited, the president said, referring to claims of the country facing bankruptcy.
"On the other hand, they're talking of a bankrupt government, saying 'there's no money, we will go broke in 2025, we will go broke in 2026.' But they're taking lists and making pledges. Isn't this going to be expenditure by the government?" he asked.
Opposition candidates were announcing bold pledges because they know the government has the funds or the capacity to earn it, the president said.
"[They're making pledges] surely because they know we have the money, or because they know we can get the money. Otherwise, they're lying," he said.
Solih urged voters to consider such "illogical" claims by rival candidates.
