Finance Minister Hassan Zareer told the People's Majlis that the Maldives' economic growth is projected to slow to between 0.6% and 1.8% this year, down from a previous forecast of 5.3%, blaming the conflict in the Middle East. Tourism arrivals are estimated at 2.17 million by year-end, a 3.5% decrease from last year's 2.25 million.
Tracked 2.17 million Tourist arrivals
One outlet so far Only Adhadhu (English) has reported this among the sources we monitor. A gap in what we monitor, not proof that others did not report it.
However, towards the end of the first quarter, a major war shook the global economy. This is the third major shock to the Maldives' finances in the last ten years,
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Finance Minister Hassan Zareer has announced that the Maldives' economic growth is projected to slow significantly this year to between 0.6% and 1.8%, driven by the adverse impacts of the conflict in the Middle East.
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The government had previously forecasted an economic growth rate of 5.3% for the year.
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the sector saw a 23% decline in March and April.
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Consequently, year-to-date tourism performance remains 3.6% lower than the previous year.
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The government now estimates that 2.17 million tourists will visit by the end of the year.
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This represents a 3.5% decrease compared to the 2.25 million tourists who visited last year.
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