Due to the poor state of the economy, the president has stated the upcoming couple of months could be very challenging and urged the people to accept this truth.
President Dr. Mohamed Muizzu has said that the upcoming couple of months will bring about economic difficulties and highlighted that it will be an overwhelming period, imploring to the people of the country to accept this truth.
Speaking at a ceremony held today at Thaa Atoll Guraidhoo, he said that the economic state of the country is at a point it had never before been in and said that he had "inherited a destroyed, debt-ridden economy".
Stating that the conditions of state-owned companies are,at present, very poor, he said that they are on the verge of bankruptcy with the exception of two to three facilities. President said that the situation tumbled to such a level due to mismanagement and remarked that the situation needs to be restored to the right track.
He added that proceeding while in denial of this truth will not derive any favorable results.
“As fate would have it, the upcoming couple of months will be the most challenging. This time period when our economic and income matters needs to be strengthened is the most sensitive period,” said the President.
He said that the government has been working on the implementation of the arrangements determined to improve the economic state of the country and assured that following the second quarter at the end of July, the situation will ease significantly.
Sharing that his aim is to enforce sustainable development strategies in its truest sense while highlighting that the resulting evolution will be most favorable; he implored the citizens to face this truth.
“Disregarding these truths with the approach of an election and cutting corners as frequently done in these matters, will not generate any positive results. I want to bring forth development in its truest sense,” he said.
He highlighted that as a result, various projects arranged to ensue at islands must be categorized with priority given to the most important schemes. The president said that the decision on the projects will be determined with the involvement of Island Councils to ensure consideration of the people's will.
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