The World Bank expect Maldives economy will improve between 7.9 to 8.5 percent in the coming year of 2021.
According to the bank’s “World Bank Maldives Development Update” report, the economic impact of the Covid-19 pandemic will remain significant in the current year.
Moreover, the bank said the real Gross Domestic Product will stagnate between 13 and 17.5 percent in the current year.
Furthermore, the estimated percentile range is 18.5 percentage points below pre-Covid-19 baseline.
However, despite the unprecedented setback in the current year Maldives expect steady economic recovery in 2021.
Addtionally, the bank said it will be ready to invest in renewable energy sector once Maldives start recovery.
Meanwhile, World Bank contributed USD12.8 million towards the income support package of Maldives.