The President’s Office has assured that the economy is going strong and there is no risk of the Maldives going bankrupt.
Speaking at a press conference, the Spokesperson at the President’s Office Miuvaan Mohamed said international organisations such as the World Bank and the International Monetary Fund (IMF) have estimated that the Maldivian economy will develop further next year. He said the experts from those organisations have also noted the robust policies and measures put in place by the government to manage the economy.
Furthermore, Spokesperson Miuvaan highlighted that the gross domestic product (GDP) is expected to increase by 12.3% this year and 7% next year. He also said that the tax hikes will be implemented next year to prevent the Maldives from suffering an economic crisis similar to other regional countries. He added that the Maldives has been forced to manage the global economic repercussions of the COVID-19 pandemic and the Russia-Ukraine conflict, as other countries have.
Previously, Minister of Finance Ibrahim Ameer has also alleviated concerns that the Maldives is facing bankruptcy. He said the claims are made for political reasons to undermine the progress made by the administration and that the Maldives has positive economic prospects.