President Dr Mohamed Muizzu has announced that the Government will repay MVR 200 million next week to private small businesses, settling outstanding bills.

Speaking at a press briefing on Monday, the President reaffirmed that the country’s economy remains stable and is being managed effectively to meet external debt obligations. He stressed that there is no difficulty in repaying debts and that the Government is continuing to clear payments owed to various parties.

The President explained that the Government has been making weekly repayments to small businesses. He confirmed that next week alone, MVR 200 million will be disbursed for bills under MVR 1 million, ensuring that small businesses receive the money they are owed promptly. 

Highlighting the Administration’s wider efforts, President Dr Muizzu noted that the Government had introduced several initiatives last year to support small and medium enterprises (SMEs). 

He emphasised that this year will be “the year of small and medium enterprises”, with policies designed to empower SMEs financially and strengthen their role in the national economy.