Nasheed Urges Next Presidential Candidate to Prioritise Fiscal Restraint and Halt Major Projects
Former President Mohamed Nasheed has called for a temporary halt to large-scale development projects in the Maldives, urging that the country must “slow down” to restore financial stability.
Tharahgee ge namugai hingaa hurihaa umraanee masakaiy, hatharu fas aharah huhtaalun muhinmu.
Kuriah oiy inthikhaabu thakuge shiaarakah vaan vee, “ehah madu kohlaa”. Dhen veri kamah anna Raeeseh vadhu vaan vee madujehilaan.
Concrete akee tharahgee eh noon. E ee ginafaharu…— Mohamed Nasheed (@MohamedNasheed) October 17, 2025advertisement
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In a post on X yesterday, Nasheed stated that it is vital to suspend infrastructure projects for at least four to five years, arguing that the focus should shift towards managing state expenditure and improving economic health. He suggested that the slogan for the upcoming presidential elections should be “wait for now”, emphasising that the next leader should prioritise fiscal discipline over expansion.
Nasheed highlighted that true development is not measured by the number of new buildings or physical structures but by sound economic management. He stressed the importance of reducing government spending, building financial surpluses, strengthening national reserves, and lowering debt, noting that Maldivians are educated and well-informed about such issues.
His remarks come at a time when the Parliament, dominated by the People’s National Congress (PNC), has approved a record state budget of MVR 56.6 billion for 2025 — the first since President Dr Mohamed Muizzu took office. The budget allocates MVR 12 billion for the Public Sector Investment Programme (PSIP), although recent data indicates that only MVR 7.1 billion had been utilised as of 18 September.
Concerns have been growing over delays in development projects across several islands. However, President Muizzu has pledged that ongoing projects will be completed within the next two years. The President has also inaugurated a number of new initiatives, including airport, road, and housing developments.
Nasheed’s call to halt new projects follows President Muizzu’s announcement earlier in the week that MVR 3 billion would be allocated for additional projects in the proposed 2026 budget.
