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Tuesday, June 2, 2020

Developmental Constraint to Maldives

Maldives: Moving Towards Economic StabilityMaldives for many years have been struggling to create a sustainable economy, using primary sectors mainly fishing and agriculture. Tourism is only a 1970s contributor to the GDP and Economy. When Tourism as an Industry grows our policy makers started neglecting fisheries and agriculture. Even some politicians have considered it as a low cast activity in general. The ease in getting foreign currency through tourism activities further encouraged policy makers to divert their resources in developing sector. However, till today travelling and tourism industry is the most vulnerable delicate industry in the world. The impacts to Global Tourism due to Covid19, Ebola Virus, SARS, etc was enough to assess  magnitude of vulnerability. 

At governmental level, only handful researches were conducted on Fisheries and Agriculture. Less proportionate resources and government budget were  allocated to these sectors. May be, the economic hopes for these sectors were not well thought or planned in the minds of these incumbent politicians. Like this the days are counting and continuing leaving no rapid growth for fisherman and agriculturalists of the country. Till today, no administrative specific strategic plan were rule out for agriculture and fishing industry. 

Bad governance at large in all past governments , including today's government become another hurdle for growth. Transparency and public accounting auditing is weak, and not result oriented. Almost state auditing only has become an administrative task and few issues raised are prosecuted or investigated. Ruling party and opposition MPs are corrupted, changed constitution for money, influences both executive wing and judicial wing simultaneously. 

These developmental constraints can easily be overcome if our politicians are good human only. Achieving economic sustainability becoming more challenging to Maldives day by day. 

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