{
  "title": "Maldives: 2017 Article IV Consultation‑Press Release; Staff Report; and Statement by the Executive Director for Maldives",
  "publication": "IMF Staff Country Reports, December 1, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/12/01/maldives-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45439",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The report covers the 2017 Article IV Consultation for Maldives.\n- The economy grew by 3.9 percent in 2016 and continued to improve in 2017 on a recovery in tourism and continued strength in construction.\n- The outlook is for a strengthening recovery in the near term, with low inflation and loose financial conditions, but with significant downside risks from a fragile fiscal and external position.\n- Growth is projected to recover in 2017 and stabilize over the medium term."
    },
    {
      "heading": "Macroeconomic performance",
      "content": "- Real GDP growth: 3.9 percent in 2016.\n- Growth drivers in 2017: recovery in tourism and continued strength in construction.\n- Inflation: characterized as low (no numeric value provided in the source).\n- Financial conditions: characterized as loose (no numeric value provided in the source)."
    },
    {
      "heading": "Fiscal and debt developments",
      "content": "- Fiscal deficit: widened in 2016, driven by lower-than-expected revenue and large arrears clearance despite unchanged current spending.\n- Public debt: rose nearly 11.5 percentage points as a share of GDP from 2014–16.\n- External position: described as fragile, contributing to downside risks."
    },
    {
      "heading": "Risks and outlook",
      "content": "- Near‑term outlook: strengthening recovery, low inflation, loose financial conditions.\n- Downside risks: significant, stemming from a fragile fiscal and external position.\n- Medium‑term outlook: growth projected to stabilize (no numeric medium‑term projection provided in the source).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 1, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484330999.002",
    "The report covers the 2017 Article IV Consultation for Maldives.",
    "The economy grew by 3.9 percent in 2016 and continued to improve in 2017 on a recovery in tourism and continued strength in construction.",
    "The outlook is for a strengthening recovery in the near term, with low inflation and 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.",
    "Real GDP growth: 3.9 percent in 2016.",
    "Growth drivers in 2017: recovery in tourism and continued strength in construction.",
    "Inflation: characterized as low (no numeric value provided in the source).",
    "Financial conditions: characterized as loose (no numeric value provided in the source).",
    "Fiscal deficit: widened in 2016, driven by lower-than-expected revenue and large arrears clearance despite unchanged current spending.",
    "External position: described as fragile, contributing to downside risks.",
    "Near‑term outlook: strengthening recovery, low inflation, loose financial conditions.",
    "Downside risks: significant, stemming from a fragile fiscal and external position.",
    "Medium‑term outlook: growth projected to stabilize (no numeric medium‑term projection provided in the source).",
    "**Country Report**"
  ],
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