Maldives economy observes 6 percent growth in 6 months
| DATE: 2010-07-26 | PRINT | Share
The Public Finance Statement issued by Minister Hashim read, “Tourism sector contributes the most in the good change being observed in Maldives economy.”
The Finance Ministry projects that tourism sector development will reach Rf2,984 compared to Rf2,733 and added that construction industry observed a 30-percent growth over the past six months.
According to the ministry, 25 metric tonnes of fish were caught in January-April which is 31 percent lower than the amount caught in the same period of last year.
The ministry stressed that the joint efforts with Maldives Monetary Authority (MMA) resulted in the net reserve being maintained at US$115.2 million last month from US$84.5 million and gross reserve reaching to US$309.9 million by the end of last month from US$256.8 million.
The statement cited the Finance Minister as saying that the increase in reserve was due to the revisions in fiscal policies and the foreign currency received through selling bonds worth US$100 million.
Consumer price index also dropped to 4.2 percent by March 2010 from 11.7, the ministry said.
| DATE: 2010-07-26 | PRINT | Share
MALE, July 26, 2010 (HNS) – The Maldives economy observed a six percent growth over the past six months as it reached to 3.41 percent by the end of June, Finance Minister Ali Hashim said Monday.
The Public Finance Statement issued by Minister Hashim read, “Tourism sector contributes the most in the good change being observed in Maldives economy.”
The Finance Ministry projects that tourism sector development will reach Rf2,984 compared to Rf2,733 and added that construction industry observed a 30-percent growth over the past six months.
According to the ministry, 25 metric tonnes of fish were caught in January-April which is 31 percent lower than the amount caught in the same period of last year.
The ministry stressed that the joint efforts with Maldives Monetary Authority (MMA) resulted in the net reserve being maintained at US$115.2 million last month from US$84.5 million and gross reserve reaching to US$309.9 million by the end of last month from US$256.8 million.
The statement cited the Finance Minister as saying that the increase in reserve was due to the revisions in fiscal policies and the foreign currency received through selling bonds worth US$100 million.
Consumer price index also dropped to 4.2 percent by March 2010 from 11.7, the ministry said.
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