Minister of Finance and Planning Moosa Zameer has stated that one of the Government’s biggest achievements in the past two years is pulling the country out of the severe economic downturn it was in when President Dr Mohamed Muizzu assumed office, while simultaneously launching development projects nationwide.

Speaking in an interview with MMTV, Minister Zameer said the Maldives was in a deeply fragile economic state in 2023, with the Government facing significant financial strain.

Minister Zameer also said the country was in a severely weakened economic state when President Dr Muizzu assumed office, and that the President worked to stabilise the situation, maintain essential services, and initiate development projects across the country.

He noted that the Administration is carrying out development in line with President Dr Muizzu’s commitments and highlighted that work on the National Development Plan is progressing rapidly. Consultation work is currently ongoing, and the Government expects to meet its targets, he added.

Minister Zameer said that when the Administration took office, there were widespread claims that the Maldives was on the brink of bankruptcy. He said even the former government believed this outcome was likely.

“At the time, many were waiting to see when the country would collapse. But thanks to the President’s strong policies, by the grace of Allah, the situation is improving day by day. There is no talk of external default now,” he said.

He added that while the Government continues to stabilise the economy, development projects are also being implemented across multiple sectors in islands throughout the atolls.