Leading Maldivian business figures have highlighted that the recent surge in commodity prices is primarily driven by escalating global conflicts, which have significantly increased international freight and logistics costs. They clarified that these price fluctuations are a direct consequence of global market dynamics rather than government policy.
In addition to global factors, Minister of Economic Development and Trade, Mohamed Saeed, noted that the inflationary pressures were further exacerbated by the previous administration’s decision to increase the money supply through currency printing.
To alleviate the burden on citizens, the Minister emphasized that the current administration is working in close collaboration with the business community to stabilize and maintain affordable prices for essential goods. Simultaneously, local businesses are leveraging their international supplier networks to mitigate the impact of global market volatility on the Maldivian economy.
