President Dr. Mohamed Muizzu has assured the public that the state debt is being meticulously managed without resorting to the printing of money, during his address at the campaign booth opening for PNC candidate Mohamed Fazeel, contesting for the Ga. Dhaandhoo constituency.
President Muizzu highlighted the government's fiscal discipline and shared that when he assumed office, the state had a debt of MVR 120 billion. However, he emphasized that the government has been working consistently to repay these debts, and has achieved recent successes in this regard. For instance, the government was able to timely repay a loan that was due on the 19th of last month.
"We have honored our financial obligations, ensuring timely payments of external debts and other financial commitments," stated President Muizzu, underscoring the government's commitment to responsible debt management.
Furthermore, President Muizzu affirmed that the government is steadfast in its efforts to revive the economy without resorting to the printing of money. He outlined measures being undertaken to stimulate economic growth, including the resumption of stalled projects in various islands across the country.
"We are not resorting to printing money but rather utilizing revenue to pay salaries, settle debts, and initiate crucial infrastructure projects," President Muizzu clarified, emphasizing the importance of prudent financial management in achieving sustainable economic development.
Moreover, President Muizzu highlighted the significance of resuming stalled projects, particularly those overseen by the Maldives Transport and Contracting Company (MTCC), one of the largest infrastructure development entities in the country. He reassured citizens that efforts are underway to mobilize resources and expedite the completion of key projects, thereby driving economic progress and prosperity for all.
President Muizzu highlighted the government's fiscal discipline and shared that when he assumed office, the state had a debt of MVR 120 billion. However, he emphasized that the government has been working consistently to repay these debts, and has achieved recent successes in this regard. For instance, the government was able to timely repay a loan that was due on the 19th of last month.
"We have honored our financial obligations, ensuring timely payments of external debts and other financial commitments," stated President Muizzu, underscoring the government's commitment to responsible debt management.
Furthermore, President Muizzu affirmed that the government is steadfast in its efforts to revive the economy without resorting to the printing of money. He outlined measures being undertaken to stimulate economic growth, including the resumption of stalled projects in various islands across the country.
"We are not resorting to printing money but rather utilizing revenue to pay salaries, settle debts, and initiate crucial infrastructure projects," President Muizzu clarified, emphasizing the importance of prudent financial management in achieving sustainable economic development.
Moreover, President Muizzu highlighted the significance of resuming stalled projects, particularly those overseen by the Maldives Transport and Contracting Company (MTCC), one of the largest infrastructure development entities in the country. He reassured citizens that efforts are underway to mobilize resources and expedite the completion of key projects, thereby driving economic progress and prosperity for all.
