Middle East
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BusinessEconomic growth could be below one percent
The Maldives' economic growth forecast has been slashed to between 0.6% and 1.8% due to Middle East conflicts disrupting tourism. Finance Minister Hassan Zareer noted that travel route closures and rising fuel costs have caused a sharp decline in arrivals. The government now expects 2.17 million visitors, a 3.5% drop from last year.
NewsAim for 2027 budget is to complete 70 percent of projects
President Muizzu announced that the 2027 budget prioritizes finishing 70% of contracted projects by the end of next year. The plan focuses on completing ongoing work and stalled ventures rather than starting new ones. This strategy aims to deliver public benefits while stabilizing the economy and improving the nation's credit rating.
