The IMF's Executive Board concluded an Article IV consultation with the Maldives, welcoming the GST increase and the end of exceptional MMA advances while warning that fiscal and external vulnerabilities persist. The report cited a 13.4 percent of GDP fiscal deficit and 118.7 percent of GDP public debt in 2023, and urged swift fiscal consolidation and reforms.
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the economy growing by 13.9 percent in 2022 — tourism contributed to about one third of growth.
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Inflation has been contained at 1.9 percent year-on-year in December 2023, helped by falling food and energy prices and price subsidies, the agency noted in a statement.
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Earlier reports gave 2.02 percent 1 Feb, 00:14 Maldives Republic
the overall fiscal deficit is estimated to reach 13.4 percent of GDP in 2023, with public debt rising further to 118.7 percent of GDP in 2023 the IMF report warned.
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with public debt rising further to 118.7 percent of GDP in 2023 the IMF report warned.
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the current account deficit had sharply widened to 22.8 percent of GDP in 2023, the United Nations' financial agency said, adding that gross international reserves declined to US$589 million at end-2023
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Earlier reports gave 23.4 percent of GDP 10 May, 19:11 Maldives Republicaround 20 percent 3 Apr, 20:55 Maldives Republic
gross international reserves declined to US$589 million at end-2023, covering about 1.4 months of prospective imports.
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gross international reserves declined to US$589 million at end-2023, covering about 1.4 months of prospective imports.
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Real GDP growth is estimated to average 4.4 percent in 2023, before gradually rising to 5.2 percent in 2024, according to the IMF;
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before gradually rising to 5.2 percent in 2024, according to the IMF; which also projected that the Velana international airport terminal expansion
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The Executive Board of the IMF recently concluded an Article IV consultation with the Maldives.
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