Maldives: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives
December 1, 2017
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This 2017 Article IV Consultation highlights that Maldives’ economy grew by 3.9 percent in 2016 and continues to improve in 2017 on a recovery in tourism and a continued strength in construction. The fiscal deficit widened in 2016 driven by lower-than-expected revenue and large arrears clearance despite unchanged current spending. Public debt as a share of GDP rose nearly 11.5 percentage points from 2014–16. The outlook is for a strengthening recovery in the near term, with low inflation, loose financial conditions, but with significant downside risks from a fragile fiscal and external position. Growth is projected to recover in 2017 and stabilize over the medium term.
Subject: Economic sectors, External debt, Fiscal policy, Fiscal stance, Public and publicly-guaranteed external debt, Public debt, Public financial management (PFM), Tourism
Keywords: authority, CR, deficit, Europe, Fiscal stance, GDP, Global, infrastructure investment, infrastructure investment project, investment project, ISCR, Maldives economy, MMA liability, real GDP, South Asia, The Maldives authorities, Tourism
Pages:
88
Volume:
2017
DOI:
Issue:
357
Series:
Country Report No. 2017/357
Stock No:
1MDVEA2017001
ISBN:
9781484330999
ISSN:
1934-7685
