Farmers, businesses suffered losses during Ramadan due to lack of demand: Amru

Hussain Amru, the former Managing Director of State Trading Organization (STO), has stated that farmers and businesses suffered losses instead of profits during the past fasting month of Ramadan due to economic downturn and lack of demand.

Speaking on RaajjeTV's "TV Talk" program, Amru said that during the five years of the former administration of the now main opposition Maldivian Democratic Party (MDP), prices of goods did not increase during Ramadan, and were maintained at a stable level, benefiting both farmers and businesses.

Referring to the country's economic situation, Amru said that the economy has significantly weakened, and today there is no one to do business.

Amru said that during the past Ramadan, there were no buyers for goods in the market, and some items had to be discarded due to spoilage. He mentioned that previously, items like chili, onions, and multiple other vegetables were sold at good prices during the fasting month, but this time there were no buyers. He added that since the current administration took over, people's money is depleting, and demand has been lost.

Amru stated that President Dr. Mohamed Muizzu cannot change the country's situation. He said that if he remains in power, the country will fall into an unprecedented economic abyss.

Highlighting that there is no way for money to enter the country from abroad, Amru said that due to the current administration’s policies, foreign investors have lost confidence, and investors are also distancing themselves from the Maldives. He stated that this is a looming threat to the island nation.