There is no threat of economic collapse in the Maldives at the moment, says the World Bank in a report.
The World Bank's Public Expenditure Review Report on Public Expenditure said Maldives's economy is in good shape and there is no threat of collapse. However, measures need to be taken to prevent such a thing from happening.
The government has decided to raise taxes, while the World Bank report also said the economy would benefit most from raising taxes rather than borrowing.
The report reviewed the government's performance in housing, pensions, government-owned companies, and payment of salaries to public servants.
The report also noted that the post-COVID-19 economy is growing and is expected to continue to grow. The World Bank said that despite the decline in tourist arrivals due to the Russian war, economic growth is looking good.
In addition to the World Bank, other financial institutions have also said that the Maldives economy is doing well. These institutions have reported that there is no threat of the economic collapse that some other countries in the region have experienced.
The World Bank's Public Expenditure Review Report on Public Expenditure said Maldives's economy is in good shape and there is no threat of collapse. However, measures need to be taken to prevent such a thing from happening.
The government has decided to raise taxes, while the World Bank report also said the economy would benefit most from raising taxes rather than borrowing.
The report reviewed the government's performance in housing, pensions, government-owned companies, and payment of salaries to public servants.
The report also noted that the post-COVID-19 economy is growing and is expected to continue to grow. The World Bank said that despite the decline in tourist arrivals due to the Russian war, economic growth is looking good.
In addition to the World Bank, other financial institutions have also said that the Maldives economy is doing well. These institutions have reported that there is no threat of the economic collapse that some other countries in the region have experienced.
