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Maldives Development Update, October 2023: Batten Down the Hatches

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-09-29T18:06:30Z
dc.date.available2023-09-29T18:06:30Z
dc.date.issued2023-09-29
dc.description.abstractThe economy has maintained its strong growth momentum, with the expansion in tourism, and poverty is expected to fall further in 2023. The number of tourist arrivals grew by 14 percent (y-o-y) to 1.25 million by early September 2023, reaching a historic high compared to similar periods in other years (Figure ES.1). Despite the Russian invasion of Ukraine, arrivals from Russia remained strong. An earlier-than-expected reopening of the Chinese market, on January 18, has compensated for lower arrivals from India and Gulf countries, while arrivals from Europe continued to increase. As a result, the Maldivian economy grew by 5.5 percent (y-o-y) in the first quarter of 2023. Poverty levels also fell with the strong economic rebound, to an estimated level of 1.5 percent of the population. High inequality in the country, especially in the outer atolls, remains a real concern.en
dc.identifierhttp://documents.worldbank.org/curated/en/099615309292370160/IDU0d809936f0b994048ae0836708343d7d9cde6
dc.identifier.doi10.1596/40414
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/40414
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectINFLATION
dc.subjectWELFARE DISPARITIES
dc.subjectFISCAL DEFICIT
dc.subjectPUBLIC DEBT
dc.subjectSUSTAINABILITY
dc.subjectRESILIENT INFRASTRUCTURE
dc.titleMaldives Development Update, October 2023en
dc.title.subtitleBatten Down the Hatchesen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titleMaldives Development Update, October 2023: Batten Down the Hatches
okr.date.disclosure2023-09-29
okr.date.lastmodified2023-09-29T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099615309292370160/IDU0d809936f0b994048ae0836708343d7d9cde6
okr.guid099615309292370160
okr.identifier.docmidIDU-d809936f-b994-48ae-8367-8343d7d9cde6
okr.identifier.doihttp://dx.doi.org/10.1596/40414
okr.identifier.externaldocumentum34170686
okr.identifier.internaldocumentum34170686
okr.identifier.report185054
okr.import.id1895
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099615309292370160/pdf/IDU0d809936f0b994048ae0836708343d7d9cde6.pdfen
okr.region.administrativeSouth Asia
okr.region.countryMaldives
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Inflation
okr.unitEFI-SAR-MTI-PS-1 (ESAC1)
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