The World Bank has predicted an increase between the range of 7.9 to 8.5 percent of the Maldives’ economy in the coming year.
In the latest ‘World Bank Maldives Development Update’ report released by the bank, highlighted the devastating economic impact of the global pandemic on world’s and the country’s economy as the real GDP of the country is to be expected to contract by 13 and 17.5 percent this year.
The Bank however predicts a positive future for the small island nation, and expects the country to make a recovery in the year 2021.
World Bank recently contributed US$ 12.8 million towards the income support package introduced by the Maldivian government due to COVID-19.
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