“A pillar of economic independence” — that is what Maldivian President Mohamed Muizzu called the new terminal at the Velana International Airport near Male, while inaugurating it on June 26, 2025, the country’s 60th Independence day.
The launch ceremony was spectacular, with synchronised fireworks lighting up the sky — a fete that put the Maldives in the Guinness Book of World Records.
Addressing a large crowd, President Muizzu spelled out the aspiration of the country of 4 lakh people, currently grappling with high external debt — it exceeded $8 billion 2024 — and its inevitable fiscal consequences. His administration is trying to tighten its fiscal policy, alongside a full-throttle push to tourism, the country’s biggest foreign exchange earner that contributes 21 % to the GDP.
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The airport’s new terminal will drive growth, particularly in tourism, as well as the broader economy, Mr. Muizzu noted optimistically as the Indian Ocean archipelago grapples with twin deficits and a daunting debt repayment schedule this year and next.
