Minister Ameer: The government debt has not increased

Finance Minister Ibrahim Ameer has stated that the government has not increased and that the budget was implemented under the aid received.

This statement by Minister Ameer comes after MMA statistics have shown that the National Reserve of the country had gove down by seven percent and the debt had also risen by MVR 50 billion. 

The Minister was answering to criticism directed at the government due to these statistics at the "Fala Surukhee" program of Raajje TV last night. The Minister countered those criticisms by saying that the National debt was at MVR 48 billion when the current administration came into power. He also said that the debt had increased by MVR 1.9 billion as a direct result of this administration. 

Even though MVR 1.5 billion of this money is currently recorded as debt, the Minister stated that he had assurances that this amount can be transformed into aid. The Minister then stated that MVR 325 million worth of treasury binds has been sold after the government had come into power.

"So the government debt has not increased after this administration came to power. We have implemented the budget depending on the aid we have received. So the debt will not have increased." said the Minister.

The Minister also stated that the MVR 50 billion statistics was not a worrying factor and that the government's aim was to develop and widen the economy of the country. He also noted that the middle class will develop when small and medium-range businesses start thriving.

"So we should not be looking at the debt as an absolute number. We should be looking at a percentage based on the economic development." said the Minister.