World Bank has revealed the economic growth of Maldives stalled in 2019.
In its Global Economic Prospects Report, the World Bank attributed the decreased progress of the construction industry to the stalled economic growth of Maldives. The report highlighted the progress of the tourism industry of Maldives increased in 2019.
As the progress of the construction industry decreased, the overall economic growth of Maldives was at 5.2%, lower than the amount estimated by the World Bank. The report noted the economic growth is estimated to be at 5.5% in 2020 and 5.6% in 2021. World Bank also estimates the inflation rate of Maldives to be unchanged this year.
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