[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-108501-en":3,"doc-seo-108501-105":31,"detail-sidebar-cat-0-en-105":92},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},108501,2336464648322,"Aria","https://ap-avatar.wpscdn.com/avatar/2200025388227c56fec?_k=1778556882303663488",8,"Research & Report","Maldives Public Expenditure Review - Restoring fiscal health","Maldives Public Expenditure Review: Restoring fiscal health examines the country’s macro-fiscal position with a focus on expenditure trends, debt vulnerabilities, and revenue performance. The analysis highlights that expenditures are rising with limited near-term impact, while debt risks have increased over recent years. The review also assesses revenue collection relative to peers and identifies reliance on external sources, then outlines pathways to expand fiscal space while supporting development objectives.","Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized  \nMaldives Public Expenditure Review  \nRestoring fiscal health  \nStandard Disclaimer:  \nThis volume is a product of the staff of the International Bank for Reconstruction and Development/ The World Bank. The findings, interpretations, and conclusions expressed in this paper do not necessarily reflect the views of the Executive Directors ofThe World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work.  \nThe boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance  \nof such boundaries.  \nCopyright Statement:  \nThe material in this publication is copyrighted. Copying and/or transmitting portions or all ofthis work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development/ The World Bank encourages dissemination of its work and will normally grant permission  \nto reproduce portions of the work promptly.  \nFor permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA, telephone 978-750-8400, fax  \n978-750-4470, [http://www.copyright.com/](http://www.copyright.com/) .  \nAll other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433, USA, fax 202-522-2422, e-mail pubrights@worldbank.  \norg.  \nPhoto Credits:  \nCover: Saffu on Unsplash  \nMaldives Public Expenditure Review: Restoring fiscal health Page 2  \nAcknowledgments  \nThis report was prepared by a team led by Pui Shen Yoong (Economist, Macroeconomics, Trade and Investment Global Practice – MTI GP), with guidance from Faris Hadad-Zervos (Country Director, Maldives, Nepal and Sri Lanka), Zoubida Allaoua (Director, Equitable, Finance & Institutions, South Asia), Chiyo Kanda (Country Manager, Maldives & Sri Lanka), Shabih Ali Mohib (Practice Manager, MTI South Asia), Taehyun Lee (Lead Country Economist, Maldives, Nepal and Sri Lanka) and Richard Walker (MTI Senior Economist, Sri Lanka and Maldives, co-TTL) . Fernando Gabriel Im (Senior Economist, MTI) co-led the work and Manuela Francisco (former Practice Manager, MTI South Asia) provided guidance in the earlier stages.  \nChapter 1 was written by Pui Shen Yoong and Anna Custers, with contributions from Karishma Sheriff, Juan Pradelli and Juan Pablo Erosa (consultants) . Chapter 2 was written by Pui Shen Yoong with contributions from Karishma Sheriff, Ruijie Cheng (MTI GP), Hideki Higashi, Owen Smith (Health & Nutrition GP), and Upamanyu Datta (Poverty GP) . Chapter 3 was written by Juan Pradelli and Ariel Melamud (consultants), with contributions from Karishma Sheriff. Chapter 4 was written by Dao Harrison (Urban, Resilience and Land GP) and Francis Goyes Flor (Consultant) with inputs from Olivier Giles Vidal (Finance, Competitiveness & Innovation GP) . Chapter 5 was written by Zac Mills with inputs from Tiloka de Silva and Shurufa Abdul Wahid (all consultants) . Chapter 6 was written by Mark Dorfman with inputs from Marola Castillo Quinto (Social Protection & Jobs GP) . The team is also grateful to Massimo Mastruzzi and Kirsten Deras (MTI GP) for their assistance in constructing a BOOST database for Chapter 2, Eddy Quach Trang for initial research assistance, and to Santiago Herrera (MTI GP) for guidance on the data envelopment analysis undertaken in Chapter 2.  \nThe report benefited from comments from Andrea Coppola (Program Leader, West Africa), Chadi Bou Habib, Leif Jensen, Tehmina Khan, Ralph Van Doorn (Senior Economists, MTI), Ran Li (Economist, MTI), Emmanouil Kitsios (Economist, Int","cbCailkyFHYsEAuU","https://ap.wps.com/l/cbCailkyFHYsEAuU","pdf",11761615,3,1,114,"English","en",105,"# Chapter 1: Macro-fiscal overview\n## Maldives has made a strong recovery, but it is not yet out of the woods\n## Expenditures have been increasing, with limited impact on near-term growth\n## Debt vulnerabilities have increased significantly in recent years\n## Revenue collection on par with peers, but overly reliant on external sources and plateaued pre-pandemic\n## How can Maldives increase fiscal space and still achieve its development goals?","[{\"question\":\"What does the review focus on in Maldives’ macro-fiscal situation?\",\"answer\":\"It focuses on expenditure dynamics, debt vulnerabilities, revenue collection, and how these factors affect overall fiscal health and development outcomes.\"},{\"question\":\"How does the report characterize expenditure growth and its near-term impact?\",\"answer\":\"Expenditures have been increasing, but with limited impact on near-term growth.\"},{\"question\":\"What does the review say about debt and revenue risks?\",\"answer\":\"Debt vulnerabilities have increased significantly in recent years, and revenue collection is on par with peers but remains overly reliant on external sources and has plateaued before the pandemic.\"}]","Maldives Public Expenditure Review - 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