The Ministry of Finance and Planning has reported that MVR 42.5 million was received as grant assistance in June this year.

According to the Ministry’s Monthly Fiscal Development Report, State revenue in June reached MVR 2.9 billion, representing a 20.8 per cent increase compared with MVR 2.4 billion recorded during the same month in the previous year. Officials noted that tax revenues made up the majority of this income.

Data showed that tax revenue in June amounted to MVR 2.1 billion, a rise of 16.6 per cent from MVR 1.8 billion in the same period last year. Non-tax revenue also grew significantly, reaching MVR 844 million compared with MVR 622 million in June 2024, an increase of 35.7 per cent.

Alongside these earnings, grant assistance rose sharply. The State received MVR 42.5 million in June, compared with MVR 16.9 million during the same month in 2024, a growth of 151.5 per cent.

The Ministry confirmed that deposits to the Sovereign Development Fund also grew during the month. A total of MVR 143 million was added to the fund in June, which represented an increase of 53.8 per cent over the MVR 93 million deposited in the same month last year.

Land acquisition and conversion fees, lease period extension fees and rental income from resorts also contributed positively to revenue in June.

Expenditure from the state budget totalled MVR 2.7 billion during the month, an increase of 3.6 per cent compared with June 2024. Out of this amount, MVR 2.3 billion was spent on recurring expenses while capital expenditure reached MVR 462 million.