Maldives
Maldives economy is recovering faster than projected: Government
The Maldives government has said that the island nation’s economy is recovering faster than expected.
Speaking at the virtual press conference at the President’s Office, spokesperson at the President’s Office, Mohamed Mabrook Azeez, said the Maldives was undergoing the worst economic downfall experienced in recent history due to the COVID-19 pandemic.
The Maldives economy had plummeted about 26 to 29 percent in the last year, he was quoted by Avas.mv newspaper.
However, he said, the nation had generated more revenue than it had initially predicted for in the first quarter of the fiscal year of 2021.
He credited borders re-opening, as well as the rapid vaccination rates around the world, for the quick recovery.
Azeez also said that as recently as last November, the government had predicted that the Maldives would only see about 600,000 arrivals in 2021.
However, he added, with the current trajectory, the Ministry of Tourism anticipates that over a million tourists will visit the Maldives this year. This, he said, would help the economy recover fast.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
