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Maldives Real GDP growth at 12 percent

Mohamed Rehan
01 June 2022, MVT 10:29
Medhu Safuhaa / MMA
Mohamed Rehan
01 June 2022, MVT 10:29

According to Maldives Monetary Authority (MMA) the island nation's Real Gross Domestic Product (GDP) growth rate in 2022 is at 12.0 percent.

The central bank in its latest statistical review noted that the nominal GDP of Maldives is currently valued at MVR87,498.2 million (USD5,674.3 million).

In 2021, the Real GDP growth rate in annual terms stood at 31.6 percent while in 2020 growth rate was observed at a negative 33.5 percent.

The nominal GDP value in 2021 stood at MVR77,013.2 million (USD4,994.4 million).

Moreover, MMA reports that the cumulative total of revenue so far in 2022 reached MVR24,279.9 million while the expenditure stood at MVR34,101.8 million, in the fiscal sector collectively.

The overall balance so far, gives a deficit of MVR9,821.9 million, which as a percentage of the GDP is a negative 11.2 percent.

Meanwhile, government domestic debt in treasury bills and Islamic instruments stood at MVR31,937.9 million, and MVR19,876.7 million in commercial banks.

In addition to this, the country's broad money as of April 2022 stood at MVR56,155.2 million while the net foreign assets reviewed for the same period stood at MVR17,476.9 million and net domestic assets reached MVR57,202.7 million.

The net claims on central government by the last reviewed month; April, stood at MVR46,566.1 million and the claims on private sector reached MVR31,691.3 million. The country's reserve money by April's end stood at MVR13,358.4 million.

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