President Mohamed Muizzu Opts Not to Accept Half of His Salary Amid Economic Reforms

President Mohamed Muizzu has announced that he will not accept half of his salary as part of a broader initiative to reduce public expenditure.

The President currently receives a monthly salary of MVR 100,000. By opting out of 50% of his salary, he will retain MVR 50,000. In a social media post, President Muizzu highlighted his administration's commitment to fiscal responsibility, stating, “When the budget is presented for the next fiscal year, we have decided to take a series of measures to reduce public expenditure as part of the economic reform agenda.”

In addition to his decision, the President has introduced a series of salary cuts. 10% salary reduction has been announced for political appointees, employees of state-owned companies. Furthermore, a request has been made for a 10% pay cut for members of parliament and senior official of the judiciary.

The reforms also include adjustments to the salary structures of state-owned companies, with the President noting that some companies currently pay salaries exceeding MVR 100,000. The maximum increase for these companies has been capped at MVR 90,000, with an emphasis on aligning compensation with fiscal realities.

These measures will remain in effect for a duration of two years as the government seeks to stabilize the economy and manage public finances more effectively.