Maldives Monetary Authority (MMA) has stated the economy of the country is moving in the right direction even though the government has proposed to include additional finances to the state budget.
Speaking at the Parliamentary Committee on Budget, Deputy Governor at MMA Aishath Zahira said the rate of economic growth would be maintained at a similar level as the previous year. The deputy governor explained the tourism industry has enhanced higher than expected in the first 6 months of the year, adding the sector has seen constant growth and increase in capacity in the first half of the year.
Zahira said MMA expects the tourism industry to continue growing throughout the year in the same pace seen in the first half of the year, adding a growth of 14 percent was seen during the period. She further said there was an increase in tourists arriving to Maldives from European markets, adding the introduction of new airlines as a factor which boosts the tourism industry.
Furthermore, the deputy governor revealed the reserve of the country was at USD 602.2 million, adding MMA expects the reserve to be at USD 558.21 million despite including additional finances to the state budget.