Former Finance Minister Ibrahim Ameer has said that while the COVID-19 pandemic increased the country’s debt by MVR 19 billion, it helped protect individuals and businesses during the crisis.
In a post on social media, Ameer noted that despite the challenges faced by the previous government, fiscal and economic policies were managed effectively. He highlighted that the economy, which contracted by 33 percent in 2020, rebounded with 38 percent growth in 2021 and expanded further in early 2022.
Ameer explained that the financial, economic, and social measures taken during the pandemic prevented severe harm to people and businesses. He also said that subsequent challenges, including the Ukraine-Russia conflict, were managed without significant impact on citizens and companies.
Addressing concerns about rising debt, Ameer clarified that out of the MVR 56 billion often cited, MVR 19 billion was directly related to COVID-19. He added that the remaining MVR 37 billion has been added in less than two years under the current government, noting that many projects have yet to be visibly implemented.
Ameer emphasized that the previous administration overcame difficulties by prioritizing the protection of people and businesses and preparing for necessary future reforms. He also remarked that the public can now see the difference in governance compared to the current administration.
In a post on social media, Ameer noted that despite the challenges faced by the previous government, fiscal and economic policies were managed effectively. He highlighted that the economy, which contracted by 33 percent in 2020, rebounded with 38 percent growth in 2021 and expanded further in early 2022.
Ameer explained that the financial, economic, and social measures taken during the pandemic prevented severe harm to people and businesses. He also said that subsequent challenges, including the Ukraine-Russia conflict, were managed without significant impact on citizens and companies.
Addressing concerns about rising debt, Ameer clarified that out of the MVR 56 billion often cited, MVR 19 billion was directly related to COVID-19. He added that the remaining MVR 37 billion has been added in less than two years under the current government, noting that many projects have yet to be visibly implemented.
Ameer emphasized that the previous administration overcame difficulties by prioritizing the protection of people and businesses and preparing for necessary future reforms. He also remarked that the public can now see the difference in governance compared to the current administration.
