Government’s estimate for 2015 economic growth unrealistic, says World Bank
High levels of public debt “driven by high and rising public spending” is the immediate macroeconomic challenge facing the Maldives, observed the World Bank’s South Asia Economic Focus report released last week. The government’s forecast for economic growth is 8.5 percent, but both the World Bank and the International Monetary Fund (IMF) expect the Maldivian economy to grow by 5 percent this year.
11 Oct 2015, 9:00 AM
The government’s estimate for economic growth in 2015 is unrealistic with the performance of the tourism industry below expectations, says a World Bank report on South Asian economies.
The government’s forecast for economic growth is 8.5 percent, but both the World Bank and the International Monetary Fund (IMF) expect the Maldivian economy to grow by 5 percent this year.
High levels of public debt “driven by high and rising public spending” is the immediate macroeconomic challenge facing the Maldives, observed the World Bank’s South Asia Economic Focus report released last week.
With government expenditure persistently outstripping income in recent years, public debt reached 75 percent of GDP or more than US$2 billion at the end of 2014.
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