President Mohamed Muizzu has announced that the government’s aim is to complete at least 70 percent of currently contracted projects by the end of next year.
Speaking on the state broadcaster PSM's "Nation Chat" program last night, Muizzu said that the state budget to be submitted to Parliament prioritises the completion of ongoing and signed projects. He emphasised that this includes accelerating projects that had been stalled for various reasons to ensure the public benefits from their results.
"Our goal is to make next year, God willing, the year we complete and deliver at least 70 percent of the projects we have already contracted," he said.
Muizzu further noted that while the upcoming budget focuses on finishing existing work rather than initiating new ventures, it will still include several essential new projects necessary to fulfil his administration's pledges to the people.
Addressing the nation's economic situation, Muizzu remarked that the country was in a precarious economic state when he took office. However, he asserted that the measures taken have successfully averted a sovereign default. He also highlighted the improvement in the Maldives' credit rating as evidence of growing investor confidence.
Reflecting on the challenges of project implementation, Muizzu noted that rising global oil prices and the conflict in the Middle East have impacted the Maldivian economy. He stated that the government has worked to shield the public from the direct consequences of these external shocks.
Muizzu assured that the operations of state-owned enterprises such as MTCC and RDC would be streamlined over the coming year to expedite harbour and road construction projects. He noted that difficulties in sourcing rock boulders for harbour projects have been resolved, promising visible progress across the atolls in the coming months.
