President Ibrahim Mohamed Solih says it is imperative that the budget is revised and that relevant stakeholders should research and propose means of increasing state income as the State’s expected revenue this year is decreased by approximately one billion USD.
He made these comments at the inaugural meeting of the National Taskforce on Resilience Building and Economic Recovery today.
A statement by the President’s Office said that while speaking at the meeting President noted that the fundamental purpose of constituting this Taskforce is to help the Maldives emerge from the COVID-19 crisis a more resilient country.
He remarked on the strides the Maldives has made in a short while, in terms of increasing its healthcare capacity and resources to combat the virus.
He also welcomed how quickly the country has been able to reach a stage in which it can safely consider reopening borders.
Solih said that the country is now well-positioned to begin a strong economic recovery, while also acknowledging the many difficulties businesses and individuals have recently endured.
The President stated that it is imperative that the budget is revised and that relevant stakeholders should research and propose means of increasing state income
The statement also said that during the meeting, three subgroups within the Taskforce: the working group on finance; the working group on economic recovery; and the working group on the social sector, gave presentations relevant to their specific work.
It said that each respective group elaborated upon the strategies they have devised and the work they are already doing to help the country make up its budgetary shortfalls, revive its economic activity and ensure that the health and social sectors are well-equipped to deal with future challenges.
The statement read that the groups collectively outlined what a ‘new normal’ could entail as the country eases temporary restrictive measures, allows business activity to resume, and prepares to reopen schools, in response to the continuing daily decrease of active COVID-19 cases.
Additionally, the Ministry of Tourism shared guidelines regarding how to safely restart the country’s Tourism Industry. At the meeting’s conclusion, the Taskforce indicated that major decisions regarding the suggestions presented by the working groups and the guidelines presented by the Ministry of Tourism will be announced at the next meeting.
