President Dr Mohamed Muizzu has hailed the economic progress achieved over the past two and a half years, stating that it was made possible through the implementation of a holistic economic policy. He made the remarks while addressing a victory rally held on Thursday evening at the headquarters of the ruling People’s National Congress (PNC).
The President said that, while previous administrations had neglected the economy, his Administration had, over the past two and a half years, prioritised the implementation of a comprehensive economic policy aimed at strengthening the country’s financial foundations.
President Dr Muizzu added that the Administration’s economic policy had enabled the Government to settle longstanding legacy debts. He noted that the Maldives had repaid nearly USD 1 billion in outstanding debt over the past 40 days alone, including a USD 524 million Sukuk payment. He emphasised that these repayments were made while ensuring that national assets previously pledged as collateral were returned to the people.
The President said that, by the grace of Allah, the benefits of these economic measures would be reflected in increased purchasing power for citizens and a wider range of choices in the marketplace.
He stressed that facts are not shaped by personal beliefs and underscored the importance of recognising this reality. In this regard, he described the repayment of USD 974 million within just 40 days to safeguard the nation’s future as an undeniable achievement.
President Dr Muizzu added that this effort had eased a substantial debt burden borne by every Maldivian and said that its positive effects would be felt across generations, including through enhanced national security. He noted that economic security is a core pillar of “Dhivehinge Raajje” and that significant progress has been made towards achieving this objective.
He also reflected on the country’s foreign policy, stating that it had been imbalanced when his Administration assumed office. He said the Government adopted a “Maldives First” approach as the guiding principle of its foreign policy and implemented its policies accordingly. President Dr Muizzu emphasised that he would always prioritise the interests of Maldivian citizens, the nation, and its sovereignty. In this regard, he said, the Maldives has maintained cordial and respectful relations with all countries while strengthening international cooperation.
The President added that the Maldives is now widely accepted on international platforms and is regarded as a trusted partner and collaborator, expressing confidence that this approach will deliver tangible results in the days ahead.