Zameer says govt focused on improving conditions for SMEs
He said the government intends to expand the participation of Maldivian businesses in real estate and construction projects, including housing.
Government is working to strengthen the operating environment for small and medium enterprises across the country, Finance Minister Moosa Zameer said Friday.
Zameer made the remarks while attending the MSME Awards 2025 as Chief Guest. The ceremony was organised by the Business Centre Corporation (BCC) under the Ministry of Economy and Commerce. The event recognised businesses across 24 award categories, acknowledging the contribution of small and medium enterprises to the Maldivian economy.
The Minister presented several fiscal outcomes achieved over the past two years, including:
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Reduction of the fiscal deficit from 9.9 per cent of GDP in 2024 to a projected 5.5 per cent in 2025.
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Managing expenditures within the approved budget without a supplementary budget since 2021.
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Recording a budget surplus for 40 consecutive weeks in 2025.
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Repayment of a USD 100 million sovereign bond maturing in 2025.
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Revenues for 2025 projected to exceed initial estimates.
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The Sovereign Development Fund reaching over USD 100 million in liquid balance.
Zameer said strengthening the role of Maldivian contractors in national development was a policy priority. Over the past two years, the government awarded more than 200 contracts worth MVR 2.7 billion to 53 Maldivian contractors under contractor-finance arrangements.
He said the government intends to expand the participation of Maldivian businesses in real estate and construction projects, including housing and commercial developments.
The Minister highlighted programmes designed to support MSMEs, including the USD 40 million SME Impact Fund established with the Islamic Development Bank Group. The first USD 10 million tranche has been received, and SDFC is disbursing financing to eligible businesses.
