GDP has been increasing since 2010: Finance Ministry

The country’s GDP has been increasing since 2010, the Ministry of Finance and Treasury says.

The GDP growth has slowed down as the global economy goes through a difficult period, it said.

Data released by the ministry shows that economic growth was at 3.9% in the first quarter of 2016, and it increased to a record 6.8% in the second quarter.

The construction industry grew 18.2% in the first quarter of this year and 12.8% in the second quarter, with construction material imports increasing by 23.5% in the first six months of 2016.

The GDP is expected to be at MVR58.1 million by the end of this year, which is an increase of MVR1.9 billion compared to last year, the ministry said.