State debt reached 23 billion due to increased expenditure: Nashiz

Alifushi constituency member of the Peoples’ Majlis, Mohamed Nashiz has said that the state debt has reached a total of more than 23 billion Maldivian Ruffiya due to the increase in expenditure and lack of adequate economic policies.

Majlis Finance Committee member, Nashiz said this in an interview to DhiTV. He said that the state debt which was 10 billion Ruffiya when former President Nasheed sworn into office reached to 23 billion Ruffiya during the course of only three years because Nasheed’s administration was reckless in their expenditure and their lack of concern regarding the issue.

In view of the current economical state, Nashiz noted that the 2012 state budget debt will reach 9 billion Ruffiya although the state income is a total of about 8 billion Ruffiya.

He said that the state debt increased this much because of the former government was more concerned on spending and did not account the state expenditure, while the Majlis passed the economic bills, tax bills, state budgets proposed by the government in whichever way they wanted.

MDP Parliamentary Group member, Nolhivaram constituency member Mohamed Nasheed (Colonel) said that some of the economic policies of Nasheed’s administration have harmed the economy of Maldives. He noted that the large expenditure, the many companies, leasing of uninhabited islands under corporate social responsibilities are from the policies of the former government which he did not support.