Maldives economy slowed to 1.9% in 2015

The Maldivian economy slowed to just 1.9 percent growth in 2015, knocked by a slowdown in tourism arrivals and a number of booking cancellations following a state of emergency in November, the World Bank has said.

Infrastructure projects could ‘transform’ economy, but poses risks

A visiting IMF mission said today that the “unprecedented scale up in public infrastructure” – including the expansion of the international airport and construction of the Malé-Hulhulé bridge – could boost tourism capacity and prove transformation “if implemented successfully, together with supportive education and employment policies”. But substantial external borrowing could add to “already elevated public debt.”

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.

Economic growth relatively strong, but public debt ratio high: IMF

Public debt to reach MVR31 billion by end of 2014, reveals finance minister

Government to freeze hiring in 2015

Expansion of economic activity in first quarter driven by tourism sector growth: MMA

Finance Ministry instructs offices to implement cost-cutting measures

Imports, exports rise in 2012 as current account deficit worsens

State budget of MVR 16.9 billion for 2013 presented to parliament

Taming fiscal deficit “most pressing macroeconomic priority for Maldives”: IMF mission

IMF urges parliament to expedite fiscal responsibility legislation

“Time for everyone to tighten their belts”: Finance Minister Jihad

State budget for 2012 submitted to parliament

Maldives hopes “global slowdown” will bolster rufiya