President Dr. Mohamed Muizzu assured that steps are being taken to prevent price hikes during the upcoming Ramadan, emphasizing the government's commitment to stabilizing market prices and safeguarding public prosperity.
He made these remarks during the Presidential Address at Parliament.
He highlighted that the government successfully maintained stable prices for essential goods during Ramadan last year. He noted that similar preparations are underway this year to avoid market fluctuations during the holy month. The government aims to protect public prosperity by keeping the cost of living under control.
Addressing inflation trends, President Muizzu reported that commodity prices increased by only 0.8 percent last year, a 2.9 percent reduction compared to the previous year's inflation rate.
Looking forward, he acknowledged that global market prices and economic fluctuations could impact inflation rates in the Maldives. Despite these challenges, the government remains focused on easing public expenditures and ensuring continued stability for consumers.
He made these remarks during the Presidential Address at Parliament.
He highlighted that the government successfully maintained stable prices for essential goods during Ramadan last year. He noted that similar preparations are underway this year to avoid market fluctuations during the holy month. The government aims to protect public prosperity by keeping the cost of living under control.
Addressing inflation trends, President Muizzu reported that commodity prices increased by only 0.8 percent last year, a 2.9 percent reduction compared to the previous year's inflation rate.
Looking forward, he acknowledged that global market prices and economic fluctuations could impact inflation rates in the Maldives. Despite these challenges, the government remains focused on easing public expenditures and ensuring continued stability for consumers.
