Finance Minister says goal is to build shock-resilient economy through strong financial system

Finance Minister Hassan Zareer has stated that the government’s primary objective is to build an economy that is resilient to economic shocks, underpinned by a robust financial system and accountability. Speaking at the opening ceremony of the 'Maldives Accountants Forum 2026' organised by the Institute of Chartered Accountants of the Maldives (CA Maldives), Minister Zareer emphasised that a sustainable economy must be built on trust, responsibility, and effective resource management, with a solid accounting sector as its foundation. He noted that accounting is not merely about managing public funds or making business decisions, but a critical component that attracts investor confidence and strengthens economic governance. The Minister highlighted the progress made under President Dr Mohamed Muizzu’s administration, stating that over the past year and a half, the government has repaid $1.4 billion in debt – the largest debt repayment in the country’s history. This has led to credit rating upgrades by Fitch Ratings and Moody’s. However, he stressed that true resilience involves more than just meeting immediate obligations, and reiterated the goal of making the Maldives a fully developed country by 2040. Zareer outlined that achieving this vision requires a private-sector-led, broad, and digital economy with enhanced productivity and a strong financial sector, where reliable financial information and institutions play a key role. He also praised CA Maldives for its regulatory role and expressed government support for strengthening the institute’s regulatory capacity. The Minister welcomed the introduction of the 'Accountants in Business' registration and initiatives to train young professionals.