President Abdullah Yameen Abdul Qayyoom has stated that the main aim of the Government was to radically change the economy of the country via major projects and as a result, would increase the prosperity of the citizens.
Speaking in the ceremony held to open the Fenaka Corporation owned engine house in R. Maduvvari, President Yameen said that the per capita income of the country is now between US$ 6,000 and US$ 7,000. He said that it was his target to ensure that the figure reaches to US$ 12,000 before the end of his Presidential term. President Yameen added that this can only be achieved by instating mega projects all across the nation.
President Yameen said that the bank reserves at MMA have now been slashed to 10 percent, which will facilitate lower interest loans and more loans in circulation. He also said that presently interest rates are between eight and nine percent and that this has to be lowered to 5.5 to six percent.
President Yameen added that the Government had spent a lot of the Minivan 50 celebrations as it was essential for the public. He noted that all expenses were budgeted and that if a difference was there, then it would amount to between 10 and 15 percent. He added that the main emphasis of the Minivan 50 celebrations was to ensure that the memories of the day remain with the children and youth.
President Yameen said that the services of MTCC, the company tasked with finishing the Izzudin jetty, had suffered to a degree due to the pressure of the work. He added that he was not offering this as an excuse.
Key economic projects will be launched next year: President
