Maldives: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Maldives

International Monetary Fund

No 2017/357, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; Maldives economy; deficit; authority; GDP; real GDP; infrastructure investment project; investment project; infrastructure investment; MMA liability; The Maldives authorities; Tourism; Fiscal stance; South Asia; Europe; Global (search for similar items in EconPapers)
Pages: 88
Date: 2017-12-01
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