The Cabinet has established new economic benchmarks aimed at improving productivity across key sectors, as the government intensifies efforts to place the Maldives on a longer-term development path.
The announcement was made by Mohamed Saeed, Minister of Economic Development and Trade, who said the government has designated 2026 as the “Year of Maldives’ Productivity”. The initiative is intended to accelerate progress towards national development objectives and strengthen economic performance.
Minister Saeed said achieving developed-nation status by 2040 would require sustained per capita economic growth of between five and six percent annually. He noted that reaching this target would depend on consistent productivity gains across the economy, supported by clear performance standards tailored to individual sectors.
According to the Minister, the government plans to introduce sector-specific benchmarks to guide policy implementation and measure outcomes more effectively. These benchmarks are expected to shape both public and private sector activity, while reforms within national institutions are aimed at improving efficiency and encouraging greater participation from workers and young people.
Minister Saeed also highlighted the role of accurate information in supporting economic development, saying informed public understanding was necessary to align expectations with national priorities and sustain momentum towards long-term growth.
The government’s renewed emphasis on productivity comes as economic management remains under close scrutiny, with policymakers seeking to sustain growth while addressing structural constraints within the economy.
