Maldives economy recovering faster than forecast: Spokesperson

The government has stated that the Maldives’ economy is recovering faster than expected.

Speaking at the virtual press conference at the President’s Office on Wednesday, Spokesperson at the President’s Office Mohamed Mabrook Azeez noted how the Maldives was undergoing the worst economic downfall it had experienced in recent history due to the COVID-19 pandemic. Maldives’ economy had plummeted about 26 to 29 percent in the last year, the Spokesperson said.

However, Mabrook confirmed that the state had generated more revenue than it had initially predicted for in the first quarter of the fiscal year of 2021. He credited borders re-opening, as well as the rapid vaccination rates around the world, for the quick recovery.

The Spokesperson stated that as recently as last November, the government had predicted that the Maldives would only see about 600,000 arrivals in 2021; however, with the current trajectory, the Ministry of Tourism anticipates that over a million tourists will visit the Maldives this year.