Maldives economy “relatively buoyant” but fiscal imbalances continue to grow: IMF
20 Nov 2014, 5:47 PM
Daniel Bosley
While the Maldivian economy is performing well, fiscal indiscipline remains a problem as budget deficits continue to grow says the International Monetary Fund (IMF).
“We see that the economy is relatively buoyant,” said the IMF delegation in a statement given to the media today.
“However, despite the improvement in the real economy, the fiscal deficit has continued to widen and this is because of very high public expenditure and public debt is very high, so we think the fiscal position does need to be addressed.”
Parliamentary debate on the record MVR24.3 billion (US$1.5 billion) state budget for 2015 concluded this week, with opposition MPs expressing doubts over whether the MVR21.5 billion revenue forecast could be realised.
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