Private sector-led, digital economy key to Maldives’ 2040 development goal

Private sector-led, digitally driven economy key to Maldives’ 2040 development goal: Finance Minister

Finance Minister Hassan Zareer says achieving the Maldives’ 2040 development goal will require a diversified, private sector-led and digitally driven economy.

Mohamed Hilmy

24 October 2026, 14:57

Achieving the Maldives’ goal of becoming a fully developed nation by 2040 will require a diversified, private sector-led and digitally driven economy, Minister of Finance and Public Enterprises Hassan Zareer has said.

Speaking at the opening of the Maldives Accountants Forum 2026, Zareer said the country will also need a stronger financial sector, greater productivity, trusted institutions and reliable financial information to achieve the development target.

He said building economic resilience would also require sound public financial management, reliable reporting and stronger accountability to help the economy withstand future shocks.

Zareer highlighted the Government’s fiscal reform programme, saying more than USD 1.4 billion in debt has been repaid over the past one and a half years, which he described as the highest level of debt repayment in the country’s history.

He also said artificial intelligence, data analytics, automation and sustainability reporting are reshaping the accounting profession, while strong accounting and auditing standards remain important for investor confidence, tax compliance and economic governance.

Private sector-led, digitally driven economy key to Maldives’ 2040 development goal: Finance Minister

Leave a comment

Comments

Latest News