Maldives total debt hit MVR73.96b, 108% of GDP

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Maldives public and publicly guaranteed debt as of second quarter end stood at MVR73.96 billion, reports Ministry of Finance.

Furthermore, the government authority highlights this debt is at 108% of the country’s Gross Domestic Product (GDP).

Publicized by the ministry, noting debt updates of the state, it claims the state budget debt stood at MVR54.3 billion by 2019 end.

Moreover, this budgetary value transforms to 61% of Maldives GDP.

However, during the first quarter of 2020 the budget debt stood at MVR55.9 billion in an annual term, which is 82% of GDP.

Budget debt continued to surge into the second quarter of the year as well, with figures hitting MVR57.32 billion.

As per the ministry, this debt transforms into 84% of the country’s GDP.

Meanwhile, out of guaranteed debt the external component stood at MVR15.70 billion while domestic component hit MVR934 million.

The total guaranteed debt for the review period stood at MVR16.63 billion.

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