During tonight’s presidential speech to the public, President Ibrahim Mohamed Solih has revealed that his government has decided to defer the payment of land rent for the resort islands and along with those rented farming islands to the last 2 quarters of this fiscal year. Though this would incur an immense loss for government revenue, President Ibrahim Mohamed Solih did not state how the state was going to cover this loss.
This comes at a time when many members of the public criticized his governments lackluster policies in combating the economic repercussions of COVID 19. Many criticized this decision noting that SME’s have been left for their own while the government has been attending to the big businesses. Its reported that more than 33,000 individuals have no their source of income with many more reporting a loss in income with the bankruptcy of many SME’s.