President Dr Mohamed Muizzu has stated that the Government has implemented a holistic economic policy over the past two and a half years aimed at strengthening the country’s economic recovery and addressing financial challenges.

Speaking at a People’s National Congress (PNC) gathering held on Thursday night, he stated that the Administration inherited significant economic difficulties and debt obligations, but had since introduced broad economic measures focused on stabilisation and recovery.

President Dr Muizzu said the Government had worked to repay major financial obligations during the past period, including external debt repayments. He noted that nearly USD 974 million in debt had been repaid over recent months, including repayments linked to the country’s Sukuk obligations.

He added that the Administration’s economic efforts are intended to strengthen access to goods and services for the public while easing financial pressures on the State and citizens. He added that improving the national economy remains among the Government’s key priorities and commitments.

The President further stated that ongoing economic measures are beginning to produce positive results, while reaffirming the Administration’s commitment to maintaining long-term economic stability and development.