Government Revenue Reaches MVR 30.7 Billion; 8.5% Growth and Controlled Spending Bolster Fiscal Position

Government revenue and grants have reached MVR 30.7 billion as of October 16, 2025 — an 8.5 percent increase compared to the same period last year, according to the latest Weekly Fiscal Development Report published by the Ministry of Finance.

The report was issued following a three-week period spent refining the recording and classification of government revenue and expenditure. It reveals that tax revenue continues to form the bulk of government income, with MVR 23 billion collected so far this year. This represents 75.1 percent of total revenue and grants received up to mid-October.

Among the major contributors to this increase are the Green Tax and Departure Tax, both of which saw substantial growth. Due to changes in tax rates, Green Tax revenue surged by 105.3 percent, while Departure Tax collections rose by 56.4 percent compared to the same period in 2024.

Non-tax revenue also showed strong performance, rising by 9.6 percent. The Airport Development Fee recorded a notable 61 percent increase, attributed mainly to the 10 percent growth in tourist arrivals this year. Over 1.7 million tourists have visited the Maldives so far in 2025, contributing significantly to higher collections across tourism-related revenue streams.

Revenue from Land Acquisition and Conversion Fees, Lease Period Extension Fees, and resort lease payments also recorded gains, further boosting overall government income.

The report notes that with the improved revenue performance, deposits into the Sovereign Development Fund (SDF) have increased by 45.3 percent, reaching MVR 1.6 billion.

As of mid-October, the government has received 77.1 percent of the total revenue and grants projected in the 2025 national budget approved by the People’s Majlis. Meanwhile, 62 percent of the total expenditure estimated for the year has been utilized during the same period.

The growth in government revenue reflects a combination of tax policy adjustments, strong tourism activity, and improved fiscal management — factors that continue to strengthen the country’s fiscal position as the year nears its end.