The country's economy has recovered to pre-pandemic levels: Pres. Solih

President Ibrahim Mohamed Solih has stated that the country's economy has successfully recovered to pre-pandemic levels this year.

President Solih made the statement while briefing the media about the progress of the administration's socioeconomic plans, at the President's Office, on Wednesday.

During the press briefing, the President stated that the country's economy successfully recovered to pre-pandemic levels this year, as a result of the administration's sound economic policies and recovery measures.

The President described 2022 as a challenging year for the country's economy.

Highlighting that the war in Eastern Europe, which followed the Covid-19 pandemic, resulted in significant global economic crises, President Solih noted that the financial burden of the pandemic and the war on the Maldives' economy had been heavy.

The Maldives' economy is forecast to grow by 12.3 per cent this year, while economic growth is expected to be at 7.6 per cent in 2023.

The President described the tourism industry's recovery as the main reason behind the development and stated that tourist arrivals had also reached pre-pandemic levels this year.

The Maldives' economy is also one of the ten fastest growing after the pandemic, while in 2021 and 2022, it was listed among the five fastest-growing economies across the globe.