MDP Chairman Fayyaz Ismail has criticized the current administration's ability to manage the economy, asserting that it lacks both capacity and vision.
His comments follow remarks by Economic Minister Mohammed Saeed, who blamed the MDP for the country's financial challenges.
In a recent post on X, Fayyaz addressed Saeed directly, wishing him luck but expressing doubt about his and the government’s capability to navigate the economy to stability. He noted that the public entrusted the government with power based on promises to effectively manage the economy, which had been previously criticized as mismanaged by the MDP.
According to Fayyaz, the people are not looking for continued blame of the former government but are seeking practical solutions.
Fayyaz expressed concern that the current administration might resort to policies similar to those of the previous government, including potentially accessing the Sovereign Development Fund (SDF) to boost foreign reserves. He warned that the administration might also revert to "money printing" as a short-term fix.
To genuinely support the economy, Fayyaz urged the government to focus on saving small and medium-sized enterprises and to cut unnecessary costs, such as political posts, to create fiscal breathing space. He concluded his post with a hope that divine guidance would bring sanity to the government’s approach.
His comments follow remarks by Economic Minister Mohammed Saeed, who blamed the MDP for the country's financial challenges.
In a recent post on X, Fayyaz addressed Saeed directly, wishing him luck but expressing doubt about his and the government’s capability to navigate the economy to stability. He noted that the public entrusted the government with power based on promises to effectively manage the economy, which had been previously criticized as mismanaged by the MDP.
According to Fayyaz, the people are not looking for continued blame of the former government but are seeking practical solutions.
Dear Minister Saeed, I wish you all the good luck to steer the economy to calmer waters. Unfortunately I neither see the capacity or even a vision from you or the government to do so. The people handed over power to you based on your promises and presentation that you “knew how… https://t.co/jpy5urYnlI
— Fayyaz Ismail (@faya_i) August 24, 2024
Fayyaz expressed concern that the current administration might resort to policies similar to those of the previous government, including potentially accessing the Sovereign Development Fund (SDF) to boost foreign reserves. He warned that the administration might also revert to "money printing" as a short-term fix.
To genuinely support the economy, Fayyaz urged the government to focus on saving small and medium-sized enterprises and to cut unnecessary costs, such as political posts, to create fiscal breathing space. He concluded his post with a hope that divine guidance would bring sanity to the government’s approach.
