President Ibrahim Mohamed Solih has said that the economic goal is to increase national income to MVR 30 billion by end of his Presidential term in five years.

President Solih said this during his presidential address on the occasion of the first sitting of Parliament, 2019 taking place at Dharubaaruge.

President Solih reiterated in his address that with the current progress of the economy in Maldives, the state will earn an estimated MVR 23.3 billion within this year. The President reported that this will be a 7.8 percent increase when compared the income generated in 2018.

President Solih noted that the biggest per centage of this amount would be acquired through collection of income tax. He added that his economic goal is to ensure an increase of annual income to MVR 30 billion in Maldives by the end of his term.

The President declared that the work is ongoing to introduce Islamic Monetary Policy Instruments within this year, in an effort to improve the country’s monetary policy.