President Mohamed Nasheed has said that the government was confident of increasing the national reserve and improving the country’s economy. He made this statement while speaking at the press conference held today at the President’s Office.

At the press conference, the President spoke on the reasons for the increase in government expenditure.

He said in 2008, the previous government had concluded contracts to undertake several projects, which the current government decided to honour. He also said the current government was paying off for projects that were completed in 2008.

President Nasheed also appealed to all parties to be well informed on economic issues while speaking about the issue.

The President also assured that the government would take all necessary measures to ease the pressure on the economy due to the increase in expenditure over government revenue.
Minister of Finance and Treasury, Mr Ali Hashim and Minister of State for Finance and Treasury, Mr Ahmed As-ad also briefed the media on the current economic situation in the Maldives.