Maldives economy “seriously damaged and destroyed”: former President Gayoom

Former President Maumoon Abdul Gayoom has expressed concern that the Maldivian economy has been “seriously damaged and destroyed”.

Speaking during a campaign rally on the island of Kudahuvadhoo in Dhaalu Atoll, Progressive Party of Maldives (PPM) Leader Gayoom was quoted by Sun Online expressing concern at the “serious economic problems” presently facing the country.

Gayoom argued that PPM presidential candidate Abdulla Yameen was the most capable person to save the country’s economy based on his previous government experience.

The PPM, which has the second highest number of MPs behind the opposition Maldivian Democratic Party (MDP), is part of the current coalition government of President Dr Mohamed Waheed that came to power after the controversial transfer of power on February 7, 2012.

The former President’s concerns were raised as the Maldives Monetary Authority (MMA) this month criticised current levels of government expenditure as being “beyond appropriate”.

However, Finance Minister Abdulla Jihad responded at the time that efforts had been successful over the last twelve months to curb recurrent government expenditure, while state borrowing had remained consistent.