Economic forecast for 2013 by Maldives Monetary Authority; India is considering setting up a consulate in Hanimaadhoo
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    • JANUARY 28 - FEBRUARY 3

    According to reports, Maldives Monetary Authority (MMA) forecast has shown that Maldives real GDP is projected to grow by 4.3 percent in 2013. The authority also stated that according to the government budget 2013, total revenue (including grants) is projected to increase to MVR 12,608.9 million, while total expenditure (including net lending) is projected to decline to MVR13,973.0 million. As a result, the authority predicts an overall deficit to decline to MVR 1,364.1 million, which is equivalent to 4 per cent of GDP. According to the balance of payments estimates for 2013, the current account deficit is estimated to increase to MVR690.7 million, equivalent to 28 per cent of GDP. 1

    In another development, according to reports, speaking at the ceremony held to commence international flights to Hanimaadhoo Airport of Maldives on February 2, 2013, Indian High Commissioner to Maldives D.M. Mulay said that they are currently considering setting up a consulate in Hanimaadhoo to make it easier to those who travel from Hanimaadhoo to India to obtain visas. He also said that until the consulate is set up, the High Commission, jointly with Island Aviation, will facilitate to obtain visas to India for those who travel from Hanimaadhoo. 2

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