Central bank, Maldives Monetary Authority (MMA) has estimated that the country’s productivity rate may rise 10.5% in the future.
According to MMA’s Economic Review - released in January - it was a 2% increase to their previous estimate of 8.5% growth rate, made last year. MMA made the growth forecast after an anticipated boost in the country’s tourism and construction sector.
MMA added that the latest Balance of Payment statistics revealed that this year’s current account deficit is estimated to drop down to $214.7 million.
Last year’s estimated current account deficit was $290 million.