Maldives announces removal of 228 political appointees in major cost-cutting reform

Male [Maldives], October 15 : Maldives which faces heightened external and fiscal vulnerabilities announced the removal of 228 political appointees from various government ministries as part of his administration's Economic Reform Agenda, aimed at reducing government expenditure.
President of Maldives, Mohamed Muizzu on Tuesday announced the major cost-cutting reform to address fiscal and external imbalances, build investor confidence, and reduce debt over the medium term.
The decision was shared with the public via the President's official X account, where he described it as a direct cost-cutting measure.
"As part of the Economic Reform Agenda, as a direct cost cut down measure, I have today instructed to remove 228 political appointees from various government ministries within the next 15 days. This includes 7 State Ministers, 43 Deputy Ministers, 109 Senior Political Directors and 69 Political Directors. It will save Rf 5.714m per month from the government budget," Muizzu posted on X.
"The 228 appointees to be removed within the next 15 days include 7 State Ministers, 43 Deputy Ministers, 109 Senior Political Directors, and 69 Political Directors. This measure is expected to save the government Rf 5.714 million per month," added the Maldives President's Office press release.
"This significant reduction in political appointments aligns with the President's broader efforts to streamline government operations and ensure more efficient use of public funds," added the release.
The Maldives government's 2024 budget stands at MVR 49.5 billion.

Since coming to power, Muizzu has taken various steps to strengthen the economy of Maldives. Earlier this year he shared the plan to establish a development bank in Maldives and review the economic policies of the country.
Earlier, Muizzu emphasised India's role as a leader in technology and innovation as the island nation stands on the brink of a digital revolution.
Speaking at the India-Maldives Business Forum in Bengaluru on October 9, Muizzu stressed the importance of India-Maldives collaboration in achieving a digital and sustainable future for the Maldives.
He highlighted the integration of digital financial services, the launch of the RuPay card, and the Maldives' commitment to climate action and multilateralism.
He further stated that his administration's efforts to expand the digital economy through the launch of the Maldives Creative Economic Strategy aimed at revitalising technology-driven industries as well as arts and media.
Furthermore, Muizzu stressed that Maldives offers an ideal environment for Indian investment, given its proximity and shared cultural and economic ties, along with a favourable business climate.
He emphasised the importance of sustainable tourism, Maldives' dedication to renewable energy solutions, and its ongoing efforts to enhance climate resilience.
He further invited Indian investors to explore opportunities in these areas, including renewable energy, emphasising that their expertise could foster a sustainable future, boost the Maldivian economy, and support global climate action.
Muizzu later expressed his gratitude to the Government of India, the Indian business community, and all those involved in making his visit a success.
The forum was held on the sidelines of the ongoing five-day state visit to India of President Muizzu along with First Lady Sajidha Mohamed.
This is the second time Muizzu is visiting India this year after attending the swearing-in ceremony of Prime Minister Narendra Modi earlier this June.