President: Without action, economic deterioration may be irreversible

President Abdulla Yameen has said that the economy may deteriorate to irreversible levels unless immediate action is taken towards its improvement.

The President made this remark at a ceremony in Noonu Landhoo today, held to inaugurate a new power station in the island.

He said that the government is working hard to get the economy back on track, and this involves making ‘sacrifices’.

“Every government works towards providing basic public services and improving the economy, and improving everything in general as demanded by the people. But not all governments achieve this to the same level. We are happy to say that we are here to serve the people. But if no action is taken to strengthen the economy, the country’s situation could deteriorate to a level that is beyond our reach, or to a situation that is irreversible,” President Yameen said.

Highlighting the importance of economic independence, he said that economic independence does not mean ceasing all imports and producing everything locally. He said that Maldivians should work towards increasing existing production as well as resources.

President Yameen said that it is his government’s aim to provide 24-hour electricity to all inhabited islands.

Landhoo had a population of 980 in 1985, when it first received electricity from 6:00 a.m. to 10:00 p.m. daily.

The island now has a population of 1,023.

Electricity is now provided to Landhoo by Fenaka Corporation.