Monday
18th Nov 2024
Dhivehi Edition
Finance Minister Ibrahim Ameer. Photo: Majlis
Minister of Finance Ibrahim Ameer stated that the Maldivian economy is better than previously anticipated and that the future remains auspicious.
In response to the question posed by MP for Hoarafushi constituency Ahmed Saleem regarding debt repayment, income and national USD reserve, Minister Ameer said that the economic performance has been better than expected.
Ameer said that by the end of last year, the economic growth was estimated at 37 percent, however, the National Bureau of Statistics estimates the growth to be at 41.6 percent.
Ameer said that Maldives was one of the fastest recovering and growing economies post Covid-19 and therefore the country is in great shape for the future, economically. He said that looking at the growth aspect, the outlook seems promising.
Although the credit rating for Maldives has been maintained at “B minus”, Fitch's credit rating agency has changed their views on the country’s economy to negative. It was marked “stable” last year.
The agency stated that their decision to change Maldives’ state from stable to negative was because the available reserve for liquidity will eventually be affected with the fluctuations in the global market. However, Ameer repeatedly expressed his positivity towards the Maldivian economy in today’s parliament meeting.
Ameer said that in the last Fitch’s rating they had commended the economy, with the resilience of the tourism industry, construction and other industries are doing well. However, with the fluctuations to other world economies, our outlook has been marked negative.
Ameer said that IMF and World Bank reports have similar views about the resilience of the Maldivian economy.
According to Minister Ameer, the income generated this year has been better than anticipated and stated that repayments have been going smoothly.