AGP Executive Report
Last update: 9 hours agoForeign Exchange: Parliament rejected the no-confidence motion against Economic Minister Mohamed Saeed, who said the government had supplied banks with US$1.9 billion over three years—80% more than the previous administration’s final three years. Tourism: Pulse Hotels chief Mohamed Khaleel warned that fallout from the proposed 17% tax on overseas travel providers could take years to repair, even after plans to repeal it. The government has launched its 2027 tourism campaign; arrivals reached 1.76 million by October, up 0.2% year on year. Household Costs: Maldive Gas has cut refill quantities amid import difficulties, while keeping charges tied to the actual weight supplied. Public Finances: The proposed 2027 budget is MVR59.7 billion, with the deficit expected to exceed MVR9 billion; the government targets a US$100 million increase in reserves. Economic growth is projected at up to 6.8%. Business and Finance: BML has enabled small businesses to receive US-dollar payments, while MIB reported MVR133 million in third-quarter profit and Ooredoo Maldives posted MVR577 million in revenue.
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