Muizzu Vows to Tackle Inflation and Stabilise Prices

Dr. Mohamed Muizzu, the People’s National Congress’ (PNC) presidential candidate, has made a commitment to address the issue of inflation and stabilise prices, aiming to ease the financial burden on the people, during a presidential debate last night.

Muizzu outlined his strategy for economic stability. He emphasised the necessity for the government to curtail its primary economic expenditures as a means to counter inflation and alleviate the financial strain on the populace.

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Muizzu asserted that a crucial step in combating inflation would be to cease the practice of printing additional money for government purposes. He assured voters that if elected, he would put an end to this practice and instead concentrate on reinforcing the fundamental components of a sustainable economy as a measure to combat inflation. He underscored that this action would help prevent the escalation of commodity prices.

Addressing the financial aspects of his strategy, Muizzu remarked, “We must discontinue the practice of drawing funds from the Maldives Monetary Authority (MMA) for recurrent expenses and, instead, cover these costs using tax revenues.”

Furthermore, Muizzu voiced his apprehension regarding the mounting government debt and emphasised the importance of stabilising foreign exchange rates. He provided reassurance that no additional taxes would be introduced under his administration but hinted at potential revisions to existing tax legislation.

Dr. Muizzu’s pledges on economic stability and inflation management are expected to be pivotal issues in the upcoming presidential election, as voters assess the strategies and policies of the candidates to make an informed choice for the future of the Maldives.