In a candid address today at Thaa Atoll Guraidhoo, President Dr. Mohamed Muizzu acknowledged the impending economic difficulties facing the country. Describing the current economic state as unprecedented, he attributed the challenges to inheriting a “destroyed, debt-ridden economy.”
Highlighting the precarious situation of state-owned companies, the President revealed that most are on the verge of bankruptcy, attributing this dire condition to mismanagement. He emphasized the need to restore the economic trajectory, stating that denial of the truth would yield no favorable results.
President Muizzu assured the public that the government is actively implementing measures to improve the economic outlook. He acknowledged the sensitivity of the upcoming months, urging citizens to accept the reality of the challenging period.
Addressing concerns about prioritizing development projects, the President emphasized a commitment to sustainable development strategies. He called for categorizing projects based on importance, involving Island Councils to ensure the consideration of the people’s will.
Despite the looming difficulties, President Muizzu expressed optimism, assuring the nation that the situation would significantly improve by the end of July. He urged citizens to face the truth, emphasizing that genuine development requires a collective effort and cannot be achieved by cutting corners or succumbing to election-driven approaches.