This administration has wasted $1.2 billion by draining it from national economy through unproductive expenditures: Yauqoob
31 އޯގަސްޓު 2026 | ހޯމަ 07:56Former Member of Parliament Yauqoob Abdulla has criticized the government, stating that the public is suffering significant losses due to the administration's failure to manage the economy. He accused the government of depleting dollar reserves through excessive spending on projects such as the procurement of military drones and the Fushidhiggaru Falhu reclamation project. Yauqoob further asserted that President Muizzu must take full responsibility for the country's deteriorating economic situation.
Ras Male Land Reclamation Project: Yauqoob stated that the government is wasting US dollars by incurring massive expenditures on initiatives such as drone procurement and the reclamation of Fushidhiggaru Falhu. | MACL
Former Member of Parliament for the Dhaandhoo constituency, Yauqoob Abdulla, has alleged that President Dr. Mohamed Muizzu’s administration has wasted $1.2 billion by unnecessarily draining it from the national economy.
Speaking on RaajjeTV’s "Fala Surukhee" program, Yauqoob stated that the government’s inability to manage the national economy is resulting in significant hardships for the public.
Yauqoob alleged that shortly after assuming office, the government purchased drones at inflated prices, spending $200 million on the acquisition. He further claimed that the President exploited the deal for illicit gain, accusing him of taking "kickbacks" for his personal benefit.
He stated that the police, the military, and the general public are all well aware of the matter.
Furthermore, Yauqoob stated that the President is wasting millions of dollars under the guise of the Fushidhiggaru Falhu reclamation project.
That $1.2 billion is an amount that could have realistically been retained within the country to manage our situation. If that volume of foreign currency were available today, we would not be facing these current circumstances. The question then becomes: what was it spent on? Take Fushidhiggaru, for instance, which cost $400 to $500 million. Today, the Maldivian people are not in a desperate struggle because Fushidhiggaru remains unreclaimed. When prioritizing our current needs, reclaiming Fushidhiggaru is simply not a necessity. We already have areas that have been reclaimed; we should focus on developing those locations and establishing the infrastructure necessary for people to live there.Yauqoob Abdulla
He noted that despite a month-on-month increase in state revenue, the situation regarding dollar reserves continues to deteriorate due to a failure to curb wasteful foreign currency expenditure.
Yauqoob stated that the ultimate consequence is the immense hardship faced by the public. He emphasized that as the national economy plunges into this crisis, the current administration and President Dr. Mohamed Muizzu must bear full responsibility.
