Maldives projects 6.4% economic growth for 2025
President Muizzu stated that economic growth is projected to be higher than the previous year.
Top Stories
-
Bangladeshi group arrested with MVR 3.8M in foreign currency
-
'$50M India payment not from BML deposits, funded from SDF'
-
STO orders harbour food courts to vacate within 90 days
-
India covered $43M in interest on Maldives’ $150M SBI t-bills
-
MDP warns economy faces risk of collapse amid dollar shortage
President Mohamed Muizzu announced today that the Maldives' economy is expected to grow by 6.4% this year.
Delivering the presidential address at the opening of parliament, President Muizzu stated that economic growth is projected to be higher than the previous year. He also highlighted an increase in the country’s official reserves.
According to the President, official reserves stood at $673.2 million at the end of last year, reflecting a 14% increase. He further noted that reserves are projected to reach $705.1 million by the end of 2025.
President Muizzu stated that his economic policy prioritises increasing prosperity and managing the cost of living. He noted that inflation in the Maldives averaged 0.8% last year, down from 2.9% the previous year.
"Given the changing world market prices and the evolving economic situation in the Maldives, inflation is expected to remain contained this year. This will help ease household expenditure and contribute to public prosperity," he said.
He also stated that efforts were made to stabilise market prices during Ramadan last year and that necessary measures are being taken to prevent price increases during the upcoming Ramadan period.
