Monday, March 27, 2023
DhiDaily - English Edition
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
DhiDaily - English Edition
No Result
View All Result

President Echoes IMF Forecast that Maldives Will Be One of The Fastest Growing Economies in 2022

Ibrahim by Ibrahim
February 3, 2022
0
President Echoes IMF Forecast that Maldives Will Be One of The Fastest Growing Economies in 2022
0
SHARES
6
VIEWS

President Ibrahim Mohamed Solih echoed the forecasts by the International Monetary Fund (IMF) that the Maldives would be amongst the top five fastest-growing economies in 2022.

In his annual address to Parliament, President Solih shared the administration’s vision of increasing the country’s GDP by 12 per cent, and attracting over 1.6 million visitors this year. GDP in 2021 is expected to be between 31.6 and 38.5 per cent, which is higher than the IMF and World Bank forecast.

Following the COVID-19 pandemic, the Maldives’ economy slumped by an estimated 33.5 per cent in 2020 compared to the previous year, the highest downfall since economic record-keeping began in the country. However, with the administration’s swift and effective measures, positive results were seen last year, including surpassing the one million target of tourist arrivals by attracting over 1.3 million travellers.

The President also highlighted the financial situation of the country. Moreover, Maldives received a foreign currency swap of USD 250 million in July 2019 from the Reserve Bank of India. President Solih revealed today that it was repaid on December 29, 2021, and he also added that USD 447 million in debt incurred by the previous government was paid off last year. At the end of 2021, the state reserve stood at USD 791.2 million.

President Solih also spoke about the implementation of the minimum wage, officially introduced in November 2021, something which he described as having a positive effect on the lives of thousands of staff in all economic sectors.

Tags: Presidential Address

Related Posts

President dismisses STO Managing Director
Local

President dismisses STO Managing Director

March 26, 2023
Ministry of Islamic Affairs to distribute donated dates from Saudi Arabia
Local

Ministry of Islamic Affairs to distribute donated dates from Saudi Arabia

March 23, 2023
Jumhoory Party and Nasheed’s Faction Begin Drafting Joint Manifesto for Presidential Election
Local

Jumhoory Party and Nasheed’s Faction Begin Drafting Joint Manifesto for Presidential Election

March 23, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
BML Navigates Stormy Seas: Speculation of Complicity in Scam Calls

BML Navigates Stormy Seas: Speculation of Complicity in Scam Calls

March 12, 2023
Italian Cruise Ship Costa Deliziosa Arrives in Maldives

Italian Cruise Ship Costa Deliziosa Arrives in Maldives

February 5, 2023
MTCC Launches Online Top-Up Service for Dhathuru Card

MTCC Launches Online Top-Up Service for Dhathuru Card

April 19, 2021
Fire Breaks Out in Vakkaru Resort

Fire Breaks Out in Vakkaru Resort

December 14, 2021
Stewart Fired as CEO of MACL

Stewart Fired as CEO of MACL

1
Speaker Nasheed Undergoes Multiple Successful Surgeries

“I Will Not Compete Against President Solih” – Nasheed

1
Cat Strangling Video Receives Backlash

Cat Strangling Video Receives Backlash

1
UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

0
BML Launches Lucky Draw Promotion for American Express Cardholders

BML Launches Lucky Draw Promotion for American Express Cardholders

March 26, 2023
Maldives to Extend Visa-on-arrival Validity to 1 Year

Half a Million Tourists Visit Maldives, with Russians and Indians Leading the Way

March 26, 2023
President dismisses STO Managing Director

President dismisses STO Managing Director

March 26, 2023
HDC Launches Maldives’ First Ceramic Arts and Pottery Studio

HDC Launches Maldives’ First Ceramic Arts and Pottery Studio

March 23, 2023

Recent News

BML Launches Lucky Draw Promotion for American Express Cardholders

BML Launches Lucky Draw Promotion for American Express Cardholders

March 26, 2023
Maldives to Extend Visa-on-arrival Validity to 1 Year

Half a Million Tourists Visit Maldives, with Russians and Indians Leading the Way

March 26, 2023
President dismisses STO Managing Director

President dismisses STO Managing Director

March 26, 2023
HDC Launches Maldives’ First Ceramic Arts and Pottery Studio

HDC Launches Maldives’ First Ceramic Arts and Pottery Studio

March 23, 2023
DhiDaily - English Edition

© 2022 Dhidaily

  • About
  • Advertise
  • Privacy & Policy
  • Contact

No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި

© 2022 Dhidaily