Borrowed money is used for development – Minister Ameer

Finance Minister Ibrahim Ameer | Photo: Sun

Male’, Maldives – The work done with borrowed money is towards the development of the country, says Finance Minister of Maldives Ibrahim Ameer.

Speaking at a program by local radio channel “Dhivehi Raajjeyge Adu”, Minister Ameer said that it is necessary to broaden the economy and various industries of the country even by means of taking up loans. He took the examples of fisheries, agriculture and airports of the country as areas which need to be developed further in the country.

He further said that as the number of developmental projects increase, the lesser time it would take for Maldives to revert to the pre-pandemic situation the country was in.

Estimating the growth in the country’s economy for the year 2021 and 2022, the Minister said that is it believed that the Maldivian economy will grow by 15-17 percent in the year year 2021, and that by 2022, the economy will revert to the state which the country was, in December 2019.

Defending the multiple loans taken on by the government, Minister Ameer said that it is important to work on the development of the country even with loans, and that this is something many countries of the world believe and even practice.