Maldives Monetary Authority (MMA) confirms in its latest statistics that the real Gross Domestic Product (GDP) growth rate in 2022 is currently at 12.0%.
According to the central bank of Maldives, the nominal GDP of the country is currently valued at MVR87,498.2 million (USD5,674.3 million).
In 2021, the real GDP growth rate in annual terms was observed at 31.6% and in 2020 it had reached to negative 33.5%.
Furthermore, MMA reported that the cumulative total of revenue in the Maldivian fiscal sector is currently at MVR24,279.9 million while the cumulative expenditure has reached MVR34,101.8 million.
The overall balance so far is a deficit of MVR9,821.9 million which translates to negative 11.2% as a percentage of the GDP.
According to the central bank, the government’s domestic debit in treasury bills and Islamic instruments are currently at MVR31,937.9 million and in commercial banks it is at MVR19,876.7 million.
Meanwhile, broad money as of April 2022 is at MVR56,155.2 million while net foreign assets by the same review month is at MVR17,476.9 million and net domestic assets at MVR57,202.7 million.
Furthermore, the net claims on central government by April 2022 reached MVR46,566.1 million and the claims on private sector stood at MVR31,691.3 million. In addition to this, the country’s reserve money as of April 2022 stood at MVR13,358.4 million.