MALE, March 20 (Xinhua) -- The government of Maldives has decided to subsidise the cost of water and electricity for the next two months in order to provide financial support to the public amid the COVID-19 pandemic, local media quoting Finance Minister Ibrahim Ameer reported Friday.

Ameer said that 19.5 million U.S. dollars has been allocated by the government to pay for 40 percent of all electricity bills and 30 percent of all water bills in the months of April and May.

Ameer said that the COVID-19 pandemic has negatively affected the global economy, and Maldives' decision to declare a State of Public Health Emergency would cause unavoidable losses for the country's economy.

According to state media, tourist arrivals to Maldives could fall by 12 to 35 percent due to the COVID-19 pandemic. Maldives' GDP growth is projected to be between 0.5 to -5.6 percent this year compared to an initial estimate of 7.5 percent.

Ameer said that businesses should use the working capital assistance provided by the government in order to minimize loss of jobs. He added that protecting jobs would ensure domestic consumption and assist the country in making an economic recovery.

The Maldives government has taken several measures to support tourism, fish exports, and small and medium enterprises amid a COVID-19 outbreak that has seen 13 infections in the country so far. Enditem

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