President highlights economic growth as key achievement of first year in office

President Dr. Mohamed Muizzu has stated that the government’s most significant achievement in its first year is growing the economy without leading the country to bankruptcy. He made these remarks during a gathering held to commemorate the administration’s one-year anniversary. The President criticised the previous government for managing the economy irresponsibly, highlighting that over USD 517 million had been printed during its tenure. He revealed that within five years, the state had to pay USD 1.55 for every USD 6.47 of revenue. Citing international financial institutions, he noted that Maldives was predicted to face bankruptcy by April this year. Despite inheriting these challenges, President Muizzu emphasised that his government has been implementing policies to strengthen the economy without resorting to unsustainable measures. “Our policies aim to pay off debt without printing money or risking bankruptcy. The previous government deliberately undermined our economy, throwing it into a pit. One of our greatest accomplishments in these 52 weeks has been overcoming this situation with the support of the people,” he said. The President also pointed out that the administration had to operate this year under a budget passed by a Parliament dominated by the opposition Maldivian Democratic Party (MDP), which he claimed sought to hinder the government’s progress. While this presented challenges in implementing projects, he asserted that significant achievements were still realised this year. Looking ahead, President Muizzu expressed optimism, stating that the coming year will be one of extensive development, backed by a government-led budget that will enhance prosperity for the Maldivian people.