President Dr. Mohamed Muizzu announced the government has decided to provide significant relief measures for small and medium-sized enterprises (SMEs) over the next two years, with some measures taking effect from the first day of next month.

The President met with SME owners on the 17th of this month to hear their concerns and challenges. In a post on X today, he stated that the Cabinet discussed the issues raised by business owners last Wednesday and decided to provide special relief measures for small businesses over the next two years. He said relevant government authorities will announce details about these measures.

Economic Minister Mohamed Saeed said the government has decided to provide 500 million rufiyaa in loans specifically for small businesses next year, which will be a major source of relief for SMEs. He noted that over the past two years, 595 small businesses have received small loans totaling 349 million rufiyaa, and 13 billion rufiyaa worth of bills have been paid. Of this, 5 billion rufiyaa was paid toward bills from small and medium-sized businesses, the Minister said.