The PPM-PNC Progressive Congress coalition's presidential candidate, Dr. Mohamed Muizzu, has promised to stabilize prices and reduce daily expenses for the people.
During a presidential debate hosted by Sangu TV and PSM on Saturday, Muizzu said the government should reduce its primary economic expenditures to combat inflation and alleviate the strain on the people.
Muizzu said the government must stop printing additional money for government needs to reduce inflation. If elected, he pledged to halt this practice and focus on strengthening the core elements of a sustainable economy to combat inflation. He stressed that reducing inflation would prevent the rise in commodity prices.
"For one thing, we need to stop taking money from MMA for recurrent expenditure and cover the expenditure from tax revenues,” Muizzu said.
Muizzu expressed concern over the increase in government debt and emphasized the need to reduce the foreign exchange rates. He further assured that no additional taxes would be introduced in his government but indicated his intention to amend existing tax laws.
