President Dr. Mohamed Muizzu has reaffirmed his commitment to bolstering the economy while avoiding practices such as money printing, however, at the same time, paying off debt. He made the remarks at the inauguration of the Maldives National Defence Force (MNDF) Air Corps and the Unmanned Aerial Vehicle (UAV).
Speaking at the inauguration, President Dr. Muizzu emphasised that despite its size, the Maldives is a significant nation with the capacity to effectively manage its extensive territory. He pledged to foster economic growth through prudent measures, avoiding the printing of money and prioritising debt repayment. Moreover, he vowed to inspire investor confidence and ensure adequate housing for all citizens, fostering a sense of pride in Maldivian identity.
Highlighting the potential of the Maldives' oceanic resources, President Dr. Muizzu urged the public to use such assets responsibly. He touted the benefits of a newly introduced fishing application, facilitating the identification and exploitation of fish-rich areas. Emphasising the economic significance of the nation's vast maritime territory, he advocated for the development of large-scale fishing vessels to further enhance the industry.
Furthermore, President Dr. Muizzu underscored the importance of fostering individual economic independence among citizens. He stressed the need for an economy where citizens are empowered financially. Notably, he reiterated his commitment to economic stability without resorting to money printing, contrasting with the government's recent printing of USD532 million over the past three years, according to the Maldives Monetary Authority (MMA).