While no one desires an increase in cost of living, impact of global events remains unavoidable; however, fact that Maldives has avoided bankruptcy is a significant achievement: Saeed

Economic Minister Mohamed Saeed has stated that while the government does not wish for the cost of goods to rise, price hikes remain a possibility due to global developments.

Speaking at a press conference on Tuesday, Saeed stated that the most frequent claim directed at the current administration is that the Maldives is heading toward bankruptcy. He noted that this has been a persistent narrative driven by the opposition.

Saeed stated that the Maldives has avoided bankruptcy due to President Dr. Mohamed Muizzu's patience and dedicated efforts.

The most frequent criticism leveled against the government remains the same today: the claim that the Maldives will go bankrupt tomorrow, the day after, or that the state will run out of funds. However, by the grace of God, that has not been the case.

Minister of Economic Development and Trade Mohamed Saeed

Saeed further stated that the Maldives is collaborating with other nations to mitigate the impacts of the war. He emphasized that while the government does not wish for price hikes, global developments could lead to an increase in the cost of goods. Such factors, he noted, remain beyond the government's control.

Saeed’s remarks follow assurances from President Dr. Mohamed Muizzu that the ongoing conflict in the Middle East will not lead to shortages of fuel or food supplies in the Maldives. During his first press conference since the escalation of the conflict, the President stated that the country remains secure and will not face any disruptions in the availability of essential commodities, including fuel and food.

However, the government has since faced widespread criticism as fuel and food prices have skyrocketed.