The Maldivian Economy Is Racing To Recovery Faster Than Expected Following The COVID-19 Pandemic

On Wednesday, the Spokesperson at the President’s Office, Mr. Mohamed Mabrook held a virtual press conference at the President’s Office – during which he has stated that the country’s economy is recovering at a much faster speed than initially forecasted following the significant blow it had faced due to the COVID-19 pandemic in 2020.  

Nothing that the Maldivian economy had gone downhill by approximately 26 to 29 perfect last year, the state has earned more revenue than what was initially predicted for the first quarter of the fiscal year of 2021. The Spokesperson cites the re-opening of the borders as well as the rapid vaccination efforts across all parts of the for the quick recovery.  

He further details that as at last November, the government prediction for the number of tourist arrivals in 2021 stood only at 600k – whereas with the current trajectory, the Ministry of Tourism has increased the number up to over a million. He also extended gratitude to the frontline workers and dedicated resort workers for their invaluable role in getting the Maldivian economy back on track.
 
During the press conference, the Spokesperson also shed light on the key projects undertaken by the government which are present underway noting that with 1200 ongoing projects, the current administration has undertaken more projects in two years than any previous administration for the corresponding time. In last month alone, nine projects had been completed and that an additional seven projects, which includes hospital extensions, refurbishing ferry terminals and harbors had commenced. Persisting problems such as waste management would be prioritized, and as such, legacy waste management systems have now been established in eight islands, with six more currently in the works.  

Before concluding the press conference, the Spokesperson answered questions from journalists in addition to addressing public interested concerns that were raised.