Minister of Finance Ibrahim Ameer has highlighted the findings of the team from the International Monetary Fund (IMF) that visited the Maldives, showing the positive economic growth of the country since the COVID-19 pandemic.
Citing the IMF press release following the visit, Minister Ameer said that the agency's positive projection is a result of the robust measures and policies implemented by the government following the COVID-19 pandemic. He said the Maldives is now heading toward full recovery from the economic impact of the pandemic.
Furthermore, Minister Ameer noted that the Maldives recorded 1.6 million tourist visits last year and expects 1.8 million visitors this year. He also said that President Ibrahim Mohamed Solih prioritises the well-being of citizens and is not motivated by political gain. He further shed light on the economic turmoil and chaotic political situation in the neighbouring countries, which he said compromises their economic policies and harms citizens.
IMF has projected that the Gross Domestic Product (GDP) of the Maldives will grow at 6% in 2023. The agency made the statement in a press release following the conclusion of the IMF Executive Board’s discussion on the report submitted by the staff team that visited the Maldives in 2022.
IMF stated that the economic activity of the Maldives rebounded strongly from the COVID-19 pandemic-induced contraction, supported by the government’s decisive policy measures. It further stated that the recovery is expected to continue in the near term on the back of strong tourism growth and associated spillovers to related sectors such as transportation and trade.