The People's National Congress (PNC) has stated that the new administration aims to increase foreign investments and revive the economy.
Speaking to PSM News, Vice President of PNC Mohamed Saeed said that the country needs to move forward with a foreign policy that prioritises the independence and interests of the people. He also said that the most significant economic challenge for President-elect Dr. Mohamed Muizzu when he assumes office would be in dealing with the declining usable reserve and the increasing public debt. He expressed concern that the government's usable reserve has dropped from USD90 million to USD30 million, adding that the new administration will have to make a strong national effort to recover from the current situation.
Additionally, Saeed said that the Velana International Airport (VIA) development project should be expedited in order to accelerate economic growth. He also said that banks should introduce lending at attractive rates and efforts should be made to restore confidence in the financial market. He added that important steps should be taken to manage the public debt and develop the private sector.
As such, Saeed said that President-elect Muizzu's Pro-Maldives foreign policy will play an essential role in reviving the economy. He expressed hope that the new administration will work with stakeholders to market the Maldives and bring in investments and trade from all parts of the globe. He also said that President-elect Muizzu's government will work with any nation that respects its sovereignty, as his Pro-Maldives policy aims to maintain the country's independence.