Debt has surged to 50 billion within two years, yet the government's only achievement has been the expansion of political appointments: Yaqoob

Former Member of Parliament for the Dhaandhoo constituency, Yauqoob Abdulla, has stated that while the Maldives' national debt has surged to 50 billion rufiyaa within the first two years of the current administration, the government's only notable action has been the creation of numerous political positions and the disbursement of salaries for those roles.

Speaking on RaajjeTV’s "Fala Surukhee" program, Yauqoob stated that the current administration has reached a point where it must take on additional debt simply to cover the salaries of political appointees.

He stated that despite the government's attempts to conceal the matter, they recently resorted to printing money by utilizing the pension fund to cover unpaid employee salaries.

It is a reality clearly visible to everyone just days ago, and no matter how much they attempt to conceal it, the fact remains that preparations are underway to pay this month's salaries by utilizing the pension fund, incurring further debt, and printing money.

Yauqoob Abdulla

Yauqoob stated that June and July are typically months where the state receives significant revenue, based on the deadlines for various taxes and other income due to the government. Therefore, he noted that reaching a point where salaries cannot be paid during these two months is a matter of serious concern.

Furthermore, he stated that the current administration's debt alone is projected to reach 70 billion by the end of this year.

Opposition parties have voiced serious concerns regarding the Maldives' debt situation, directing sharp criticism toward the government. In addition to calling for a reduction in state expenditure, the opposition has urged the administration to decrease the number of political appointees.