Given the current status of the economy, both global and local, it is imperative that every single citizen act in order to bring the situation to a manageable status.
The global economy is in chaos, with nations and financial institutions expressing concerns over the stability of the global economy. The dip in the Chinese economy is one of the key concerns. In 2015, Chinese economy grew by 6.9 percent, lowest in the past 25 years.
French President François Hollande had announced an economic crisis had faced his nation and declared emergency measures to rectify the situation.
Any global financial crisis will have a huge impact on the Maldives. The country is highly reliant on tourism industry, which is one of the first sectors impacted by financial crisis. A dip in arrivals will cause innumerable losses, in the form of losses arrivals and various taxes levied on the sector.
Serious considerations have to be given to rectifying the losses, with diversification and productivity as the focus. More Maldivians have to join the workforce in order to lessen the outflow of cash. Programs on national level have to be carried out to reverse the current situation.
Working together for economic success
