Malé, Maldives – February 10, 2025 – President Mohamed Muizzu has submitted a proposal to the People’s Majlis seeking approval for an economic reform agenda aimed at reducing state expenditure over the next two years. The proposal is set to be discussed in tomorrow’s parliamentary session.

According to the session’s agenda, which begins at 9:00 AM, the President’s proposal will be referred to a permanent committee for further review. However, the full details of the proposal will only be revealed when the Parliament’s Secretary-General reads the President’s letter during the session.

The government has already announced several cost-cutting measures as part of its broader economic reform strategy. These include a 10% salary reduction for political appointees, members of parliament, the judiciary, and heads of independent institutions.

In a significant move, President Muizzu has also opted to cut his own salary by 50%, reducing his monthly earnings from 100,000 Rufiyaa to 50,000 Rufiyaa.

Further adjustments are being made to the salary structures of executives in state-owned enterprises. Previously, some executives were earning more than 100,000 Rufiyaa per month, but under the new reforms, the maximum salary will be capped at 90,000 Rufiyaa.

Despite these reductions, the government has assured that employees earning less than 12,000 Rufiyaa per month will be exempt from the salary cuts.

The economic reform agenda is expected to be a key topic of debate in Parliament as the government moves forward with its plans to curb spending and streamline financial management.