President Dr. Mohamed Muizzu has criticised that over the past five years, the people did not experience any substantial benefits from projects initiated by the previous government, which heavily relied on loans. Speaking at a gathering with residents of Maradhoo and Maradhoo Feydhoo, he highlighted the flaws in the loan acquisition policy of the preceding administration.
During the address, the President affirmed his commitment to prioritise essential development projects in Addu City. However, he stressed the importance of establishing a systematic order for their implementation due to the economic challenges faced by the country.
Further, President Muizzu underscored the nation's debt had reached unprecedented levels during the tenure of the last government. He acknowledged that while taking loans for the welfare of the people is not inherently problematic, a strategic approach is necessary to navigate the economic difficulties currently faced by the country.
The president cited the successful implementation of the bridge project during the first Progressive Party of Maldives (PPM) government, highlighting its positive impact on many individuals. In contrast, he expressed concern the projects undertaken by the previous government failed to yield significant benefits for the people of the Maldives.
President also affirmed the government's intention to secure loans for the betterment of the people. Furthermore, he noted that international financial institutions have recognised these efforts, commending the government for its approach and initiatives.