Economic Minister Mohamed Saeed has said that the Ministry of Economic Affairs has already started the process of bringing the dollar's exchange rate back to normal this year.

Speaking at the 'Aha Forum' held at Sultan Park on Thursday evening, Minister Saeed said that the biggest problem faced by small businesses is the high dollar exchange rate. He spoke of the existing black market for USD in the country.

"There is a very active black market for USD although the rate is at 15.42 in the official market. We have to face this reality. The President's initiative has a lot of targeted work to eliminate the black market and I can assure you that we will try to stabilise the exchange rate this year. We have already started the process," Saeed said.

He said there are opportunities for special loans for small businesses with foreign aid and plans are being made to disburse them.

"We plan to give out loans to small businesses through the foreign aid received by the government," Saeed said.

Out of the 100 million loan, 50 per cent will be reserved for commercial empowerment of women, Saeed said, adding that the government is committed to creating young entrepreneurs of both genders, adding that the foundation stone for a 'Creator Economy' hub will be laid soon and the funds for the same have already been sanctioned.

The 'Creator Economy' hub will provide a huge space for young entrepreneurs and creative workers, the Minister said.