MMA Achieves Feat of Maintaing Exchange Rate

Photo : PSM

Maldives’ economy saw a great improvement as per the annual report of 2018 released by Maldives Monetary Authority (MMA).

Looking into the details regarding the report, the real gross domestic product (GDP) of Maldives has increase by 7.6% which is a 6% increase in comparison with 2017.

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According to the Governor of MMA, Mr. Ahmed Naseer, their greatest achievement was retaining the exchange rate of Maldivian currency and to maintain its pressure. He added that their greatest challenge was that the Maldivian economy was becoming highly dependent on American dollars and that people are more dependent on cash.

As per MMA’s annual report, a satisfactory growth was shown by Maldives in comparison with other regional countries.

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