Maldives, economic growth and development, human capital and decent employment, infrastructure development, weaknesses in governance, narrow fiscal space, social protection, diversification, productive employment opportunities, country diagnostic study, access to social services, garments, tourism, small island state, product space analysis, constraints to growth, constraints to inclusiveness. The Maldives has propelled itself to middle-income status despite its geographic constraints and the risks it faces as a small island economy. The economy has been growing in the last 5 years, but development challenges remain formidable. How can the Maldives sustain and improve the pace of its economic growth and reduce poverty and inequality? This report identifies the critical constraints to inclusive growth and discusses policy options to overcome such constraints.