President Solih Forecasts USD11 Billion GDP and USD2.9 Billion State Revenue by 2028
Photo: MDP
During a campaign event, President Ibrahim Mohamed Solih announced that the Maldives aims for a USD11 billion GDP and USD2.9 billion state revenue by 2028 as part of Maldivian Democratic Party’s (MDP) economic policies for his potential second term after the upcoming presidential election.
Emphasising the pivotal role of the tourism sector in the Maldivian economy, Solih reiterated his commitment to fostering investment and growth within this industry during his second term. Collaborative efforts with the private sector are on the agenda, aimed at expanding the tourism sector and facilitating access to loans for aspiring entrepreneurs venturing into tourism-related enterprises.
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The development of airports is another key facet of the economic strategy outlined by Solih. The expansion of Velana International Airport (VIA) to accommodate up to seven million tourists, along with enhancements to Gan International Airport (GIA) and Hanimaadhoo International Airport (HIA) catering to three million tourists, was highlighted as a means to fortify the tourism sector.
Solih expressed his administration’s ambition to achieve a significant rise in tourist arrivals, setting the target at five million. This substantial influx is envisaged to catalyze the envisioned GDP of USD11 billion and state revenue of USD2.9 billion.
Notably, the government’s approach to securing loans is underpinned by a strong belief in the nation’s developmental trajectory and its capacity to meet financial obligations.
Furthermore, Solih underscored the government’s dedication to enhancing domestic connectivity through the establishment of domestic airports and the Raajje Transport Link (RTL) high-speed ferry service.
These initiatives are integral components of the broader economic development strategy. The ongoing relocation of Male’ Commercial Harbour to Gulhi Falhu, along with other concurrent projects, is anticipated to generate a surge in employment opportunities across the nation.
