Maldives Records MVR 16.7 billion in State Revenue as of Early June 2025

The Maldives government recorded MVR 16.7 billion in total revenue and grants as of 5 June 2025, showing a 6% increase compared to the same period last year.According to the Weekly Fiscal Developme...

Mohamed Hilmy

15 June 2025, 00:00

The Maldives government recorded MVR 16.7 billion in total revenue and grants as of 5 June 2025, showing a 6% increase compared to the same period last year.

According to the Weekly Fiscal Development Report released by the Ministry of Finance, tax revenue made up the largest share, reaching MVR 13.1 billion, which is 78.4% of total revenue so far this year.

A major contributor to this growth was the green tax, which saw an 89.5% increase from the same period in 2024, mainly due to changes in tax rates.

Revenue from airport development fees, both tax and non-tax, also increased significantly — by 49.3%. This rise is linked to a 9.4% growth in tourist arrivals, with over one million tourists visiting the country during the reporting period.

Alongside the increase in revenue, deposits to the Sovereign Development Fund rose by 46.7% compared to the same period last year.

As of 5 June, the government had collected 41.9% of the total estimated revenue and grants in the 2025 state budget. In comparison, 36.1% of the budgeted expenditure had been spent.

Total government spending stood at MVR 15.6 billion, which is a 22.1% drop from the previous year. This includes a 4.4% decrease in recurrent expenditure and a 71.8% drop in capital expenditure.

Maldives Records MVR 16.7 billion in State Revenue as of Early June 2025

Leave a comment

Comments

Latest News