Abdulla Shahid Criticises Government’s Economic Management

President of the Maldives Democratic Party (MDP) and former Foreign Minister, Abdulla Shahid, has criticised the current government’s handling of the nation’s economic difficulties. 

Speaking during a panel discussion held by the MDP, Shahid attributed the looming economic crisis in the Maldives to what he described as mismanagement by the current administration.

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The discussion, which took place on last evening, featured contributions from Shahid, MDP Chairperson and former Economic Minister Fayyaz Ismail, and former Finance Minister Ibrahim Ameer. Shahid’s remarks were made in response to a recent statement made by Foreign Minister Moosa Zameer following his visit to China.

Shahid asserted that the economic stability of the Maldives had been recognised internationally until the end of the last MDP administration. He claimed that the present economic difficulties are due to the current government’s mismanagement.

Former Finance Minister Ibrahim Ameer echoed Shahid’s criticism, holding the government accountable for the ongoing economic downturn. Ameer highlighted several factors contributing to the crisis, including increased recurrent expenses and a rise in political posts from 700 under the MDP government to over 2,000 under the current administration. He also pointed to the bankruptcy of small and medium enterprises as a significant issue.

Ameer criticised the government’s spending and allocation of political positions, suggesting that these practices have exacerbated the economic challenges. He noted a revision in the economic growth forecast for 2024 from an expected 5.4% to 4.9%, attributing this adjustment to the government’s policies and perceived incompetence in managing financial issues.