Ministry of Finance has said that it is preparing for potential economic challenges arising from the unrest in the Middle East, as regional conflict continues to disrupt air travel and trade.
In a statement, the ministry said the Maldives’ financial and economic situation is being closely monitored in light of the escalating tensions.
“The top priority is to prepare for emergencies and take immediate action,” the ministry said.
The ministry noted that fuel imports to the Maldives typically come from Oman, and that it is working to identify possible supply disruptions. The ministry said it is coordinating with State Trading Organization (STO) to ensure the continuous supply of fuel.
With the economy heavily reliant on tourism, the cancellation of all flights from Middle Eastern destinations has raised concerns. The ministry said the situation is being closely observed and that potential response measures are being considered.
The statement added that the country’s relatively high reserves would provide support in managing the situation.
Around 1,400 tourists were stranded at Velana International Airport on Saturday night after flights were cancelled.
Flights to and from Dubai, Sharjah, Bahrain, Abu Dhabi, Doha and Saudi Arabia have been suspended due to the conflict. Dubai and Doha serve as key transit hubs for visitors travelling to the Maldives.
