The Ministry of Finance and Planning has reported a budget surplus of MVR 2.1 billion so far this year, supported by increased revenue and reduced Government expenditure.

In its latest Weekly Fiscal Development report, the Ministry stated that total State revenue reached MVR 9.38 billion as of 19 March 2026, compared to MVR 8.98 billion during the same period last year, representing a 4.4 per cent increase.

The growth in revenue was largely driven by tax income, which rose from MVR 6.85 billion in the corresponding period of 2025 to MVR 7.77 billion this year.

Meanwhile, Government expenditure declined significantly. Total spending stood at MVR 7.27 billion as of 19 March, down from MVR 8.11 billion recorded during the same period last year, reflecting a 10.2 percent reduction.

Recurrent expenditure, which covers day-to-day Government operations, fell from MVR 7.38 billion last year to MVR 6.61 billion this year, marking a 10.5 per cent decrease.

Capital expenditure also declined, dropping from MVR 721.1 million in the same period of 2025 to MVR 665.2 million this year.

As a result, the primary budget surplus stands at MVR 2.68 billion. Additionally, the Government recorded an overall surplus of MVR 2.1 billion during the period, after accounting for MVR 577.7 million in financing and interest costs.

For comparison, the budget surplus during the same period last year stood at MVR 873.7 million.

Transfers to the Sovereign Development Fund also increased, reaching MVR 425.1 million compared to MVR 391.6 million in the corresponding period last year.