Maldives Inland Revenue Authority (MIRA) reported a 12.5 per cent year-on-year increase in foreign exchange revenue for 2024, reaching USD 1.06 billion. A major contributor to this growth was the tourism sector, with Tourism Goods and Services Tax (TGST) and green tax collections seeing significant increases. Additionally, non-tax revenue grew by 32 per cent, with total state revenue rising 12.2 per cent to MVR 27.8 billion.