Minister Saeed: MVR 3.5 million in overdue bills paid

President Dr. Mohamed Muizzu (R) and Economic Minister Mohamed Saeed (L). (Photo/President's Office)

Economic Minister Mohamed Saeed, on Sunday, said the unpaid bills at the time President Dr. Mohamed Muizzu assumed office have now been reduced by 50 percent.

Briefing the state media regarding a meeting held with the World Bank on Sunday morning – Minister Saeed said unpaid bills were mounting up to MVR 7 billion when the current administration assumed office, which they have now reduced by 50 percent.

“There are many pending bills still. We are moving forward by attending to these. It has not even been three months for President Muizzu’s administration. We are preparing in the spirit of carrying forward with our work by overcoming these obstacles,” he said.

Minister Saeed also disclosed the discussions that took place during Sunday’s meeting with the World Bank, which ranged from the current state of the Maldivian economy and plans in the pipeline to boost the economy to fiscal consolidation, economic diversification, financial sector reform and modernization.

As the Minister, such meetings with the World Bank and other financial institutions where plans in the pipeline are shared would aid in the implementation of these plans.