AGP Executive Report
Last update: an hour agoEconomic Growth: Maldives’ economy grew 2.4% year-on-year in August to MVR 9.64 billion, led by financial services, trade and construction. Hospitality remained the largest sector, but grew just 0.7%. Financial Stability: India approved a rollover of the Maldives’ INR 30 billion currency-swap facility, effective October 23, to support liquidity. Public Finances: Official reserves fell to USD 547 million at September’s end, while state spending rose 18% to nearly MVR 36 billion and subsidy overspending topped MVR 1.37 billion. Tourism: The country is targeting 2.5 million visitors as it plans airport expansion and new resorts, while tourism tax earnings were down 1.5%. Investment and Fisheries: New foreign-investment rules are tightening oversight, and MIFCO raised its skipjack tuna purchase price to MVR 22.75 per kilo. A study also found fishers receive only a small share of premium prices for sustainably sourced seafood.
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