Speaker of Parliament Abdul Raheem Abdulla asserted this week that the single greatest achievement of President Dr Mohamed Muizzu’s government over the past two years has been successfully stabilising and bringing the country’s economy back on track.
Speaking during an interview on PSM News’ ‘Hafthaa 104’ programme, marking the second anniversary of the incumbent administration, the Speaker detailed the critical fiscal condition the government inherited, contrasting it sharply with the progress made today.
“When the President took over the government, the country's economy had fallen into a deep hole. Many people expected the country to go bankrupt. It was heavily indebted. The cost of living was very high,” he explained.
The Speaker credited President Dr Muizzu’s “wise and well- organised efforts” with lifting the economy out of that critical situation. Crucially, he emphasised that this substantial fiscal revival was achieved without resorting to measures that typically burden citizens or the economy.
“His efforts have lifted the economy out of that pit, and he did this without disrupting any essential public services and without printing money,” he highlighted.
The Speaker pointed to specific policy successes that underpinned the recovery, noting that amendments to the Foreign Exchange Act have significantly addressed the difficulty local businesses faced in obtaining US dollars, resulting in improved access to necessary foreign exchange for commerce. Additionally , these efforts have contributed to the growth of the Maldives' Sovereign Development Fund, he noted.
Describing the journey so far as “very successful,” the Speaker noted that the present government is effectively balancing development by launching new projects while simultaneously continuing key initiatives started by previous administrations.
Looking ahead, the Speaker expressed strong confidence in the administration’s trajectory, ensuring that the country will move forward on the path of development, addressing public concerns, increasing productivity, and becoming a prosperous country in the coming years.
The Parliament Speaker also strongly defended the government's 2025 and 2026 State budgets, asserting that they represent the best budget proposed by a government that wants to serve its people.
During the programme, the Speaker addressed criticisms from the opposition, who have alleged the budgets lack individual project allocations.
He countered these claims, stating that the budgets are comprehensive and designed to provide the necessary services for the people. He further elaborated that previous administrations had often included individual projects in budgets symbolically, with allocated funds insufficient for actual implementation. In contrast, he highlighted that President Dr Muizzu's administration is committed to fulfilling its electoral pledges, introducing two state budgets thus far to facilitate this objective.
The Speaker emphasised that the budgets are in line with the law and are not in violation, as alleged by some opposition members. He noted that all government budgets and bills undergo scrutiny by the parliamentary legal team, ensuring their compliance with existing legislation.
Additionally, the Speaker pointed to the super majorit" granted to President Dr Muizzu in parliament, suggesting it was a mandate from the people to enable the smooth governance of the country. He expressed confidence that the President would fully honour this responsibility entrusted by the people.