马尔代夫发展更新，2026年6月
© [2026] International Bank for Reconstruction and Development / The World Bank1818 H Street NWWashington,DC 20433Telephone: 202-473-1000Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations,and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board ofExecutive Directors, or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this workand does not assume responsibility for any errors, omissions, or discrepancies in the information, or liabilitywith respect to the use of or failure to use the information, methods, processes, or conclusions set forth. Theboundaries, colors, denominations, and other information shown on any map in this work do not imply anyjudgment on the part of The World Bank concerning the legal status of any territory or the endorsement oracceptance of such boundaries. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privilegesand immunities of The World Bank, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of itsknowledge, this work may be reproduced, in whole or in part, fornon-commercialpurposes as long as fullattribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications,TheWorld Bank,1818 H Street NW,Washington,DC 20433,USA;fax:202-522-2625;e-mail:pubrights@worldbank.org. Photo Credits Cover,PartsA.1andA.2:Erdem Atas Preface The Maldives Development Update (MDU) has two main goals. First, it takes the pulse of the Maldivian economy byoutlining key developments over the past 12 months. Placing these in a global context, and based on these recentdevelopments, the MDU then analyzes the outlook over the medium term. Second, every other edition of the MDUprovides a more in-depth investigation of selected economic and policy issues. It has a wide audience, including policymakers, policy analysts from think tanks or nongovernmental organizations, and business and financial sector professionalsinterested in the economic development of Maldives. The report was prepared based on published data available on or beforeMay15, 2026. Data sources include the WorldBank, International Monetary Fund, Ministry of Finance and Planning, Maldives Monetary Authority, Maldives Bureau ofStatistics, Ministry of Tourism and Environment, and press reports. Previous report editions: •October 2025: Maldives Development Updatehttps://openknowledge.worldbank.org/entities/publication/f627bfbe-6bc1-41db-a8fa-0ad6857bf81e•April2025: Maldives Development Updatehttps://openknowledge.worldbank.org/entities/publication/57fb0365-2b75-44c0-9962-cba68da6e93a•October 2024: Maldives Development Update: Seeking Stability in Turbulent Timeshttps://openknowledge.worldbank.org/entities/publication/44b2ff24-f864-4065-aee7-fc03b21b9fe8•May 2024: Maldives Development Update: Scaling Back and Rebuilding Buffershttps://openknowledge.worldbank.org/entities/publication/acbc24eb-8fc1-4b94-8492-a41e4e41dd2f To receive the MDU and related publications by email, please emailinfomaldives@worldbank.org.For questions andcomments, please emailrcheng@worldbank.organdeatas@worldbank.org. For information about the World Bank and its activities in Maldives, please visit: https://www.worldbank.org/en/country/maldives@WorldBank,@WBMaldives, follow hashtag#MDUSM26www.facebook.com/WorldBankSouthAsiainstagram.com/worldbank/www.linkedin.com/company/the-world-bank Table of Contents EXECUTIVE SUMMARY..................................................................................................6 1.Economic growth remained robust in 2025 with inflationary pressures elevated..........................................82.Household welfare is vulnerable to recent price shocks and further threatened by a sustained conflict inthe Middle East...........................................................................................................................................103.Fiscal balances improved in 2025, driven by revenue performance but also liquidity challenges, which wasaccompanied by increased expenditure arrears and fiscal risks..................................................................124.Public debt and external debt servicing pressures continue to increase.......................................................135.FX position improved with robust tourism and a favorable current account in 2025, yet external pressuresremain..........................................................................................................................................................146.MMA and banking sector exposure to the sovereign continued to increase.......................