President Mohamed Muizzu’s sweeping economic reforms are already bearing fruit, as Fitch Ratings reaffirmed the Maldives’ sovereign rating at “CC”, citing the critically strengthened tourism sector and renewed fiscal discipline underpinning the nation’s stability.
Central to this reassessment is tourism—a backbone of the Maldivian economy—now thriving under policies actively designed by Muizzu’s administration. As visitor numbers climb, GDP is forecast to expand by 6.0% in 2026, an achievement fueled by the government’s deliberate expansion strategy.
Equally impressive has been the administration’s monetary and fiscal tightening. A recent initiative requiring resorts to remit foreign currency daily has already channelled $25 million back into national reserves, significantly shoring up financial buffers.
Complementing these moves, President Muizzu has introduced structural reforms to bolster fiscal health—revamping tax frameworks, trimming spending, and raising tourism-related levies. Such measures are boosting revenue and reinforcing investor trust in government stewardship.
Together, these efforts have led to a sharp build-up in reserves, improved revenue performance, and heightened policy credibility—key pillars for long-term economic security that Fitch recognized in its rating decision.
In short, President Muizzu has skilfully blended tourism growth with prudent reforms, crafting a resilience-driven strategy that’s yielding early dividends. With Fitch’s endorsement, the Maldives looks poised to harness this momentum for sustained economic advancement under his leadership.
