Maldives Forecasts 6.4% Economic Growth in 2025, Reserves to Rise

On Thursday, February 6, President Mohamed Muizzu announced that the Maldives’ economy is projected to grow by 6.4% in 2025, surpassing last year’s growth rate.Delivering the presidential address a...

Mohamed Hilmy

08 February 2025, 00:00

On Thursday, February 6, President Mohamed Muizzu announced that the Maldives’ economy is projected to grow by 6.4% in 2025, surpassing last year’s growth rate.

Delivering the presidential address at the opening of parliament, President Muizzu emphasized the administration’s focus on economic expansion, strengthening reserves, and managing the cost of living.

He revealed that the country’s official reserves increased by 14% last year, reaching $673.2 million by the end of 2024. Reserves are projected to increase to $705.1 million by the end of 2025, indicating enhanced financial stability.

President Muizzu addressed concerns about inflation, noting a significant decline to 0.8% in 2024 from 2.9% the previous year. He expressed confidence that it would remain under control in 2025, helping to reduce financial pressure on households.

Considering the fluctuating global market prices and the changing economic landscape in the Maldives, we expect inflation to stay low this year, reducing household expenses and enhancing public prosperity, he stated.

He also assured that the government is taking proactive steps to stabilize market prices during the upcoming Ramadan, following similar efforts made last year.

The government’s economic policy, according to President Muizzu, remains centered on fostering prosperity while ensuring affordability for Maldivians.

Maldives Forecasts 6.4% Economic Growth in 2025, Reserves to Rise

Leave a comment

Comments

Latest News