Maldives President Dr. Mohamed Muizzu has decided to implement a new policy focused on cost reduction and revenue growth.
The policy will aim to reduce the expenses of the state while subsequently enhancing its revenue growth, and a medium-term revenue strategy. The policy decision by the Maldives head of the state follows recommendations from his cabinet.
The decision was reached after thorough discussions on a paper presented by the Minister of Finance Dr. Mohamed Shafeeq during the latest cabinet meeting.
In addition to this policy implementation, President Dr. Muizzu assigned a cabinet sub-committee to oversee and facilitate efforts aimed at diversifying the Maldivian economy and exploring avenues for revenue growth.
