Former President Mohamed Nasheed has urged the Maldives to slow down its pace of development, calling for a four to five-year pause on major infrastructure projects to stabilise the country’s finances.
In a post on X on Friday evening, Nasheed said the slogan for the next presidential election should be “wait for now,” arguing that the next leader must commit to reducing expenditure and delaying large-scale projects. He said that development should not be defined by concrete structures alone, but by the strength of public finances and the nation’s ability to sustain long-term growth.
Nasheed’s comments come amid growing attention on state spending. The 2025 state budget, the first under President Dr Mohamed Muizzu’s administration, stands at MVR 56.6 billion, with MVR 12 billion allocated for Public Sector Investment Programme (PSIP) projects. However, official statistics show that by September 18, only MVR 7.1 billion had been utilised.
President Muizzu has maintained that development work will continue and pledged to complete ongoing projects within two years. He has also inaugurated multiple initiatives in recent months, including airports, roads, and housing projects across various islands.
Nasheed’s call for restraint followed remarks by President Muizzu earlier in the week that MVR 3 billion would be allocated for new projects in next year’s proposed budget. The former president, who has increasingly voiced concerns about the nation’s fiscal health on social media, said that real progress lies in reducing public debt, strengthening reserves, and creating fiscal surpluses rather than expanding infrastructure.
