Sat, 19 Apr 2025

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DHIVEHI

Green Tax and TGST boost State revenue as budget returns to surplus

16 Apr 2025

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Yumn Hassan

Malé City, Maldives --- Photo iStock

The Government recorded a budget surplus of MVR 2.1 billion as of April 10, 2025, reversing a MVR 1.1 billion deficit from the same period last year. The surplus was driven by increased revenue and a 23 per cent drop in expenditure, despite a sharp 188 per cent rise in debt servicing costs. Key income sources included MVR 8.7 billion in tax revenue, with notable increases in TGST and Green Tax, while capital expenditure fell by over 76 per cent.

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