Maldives' State revenue saw a notable increase of 6.9 per cent at the end of April 2025, compared to the same period last year, according to the latest data from the Ministry of Finance and Planning.

As of April 24, 2025, the total revenue stood at MVR 12.4 billion, up from MVR 11.6 billion in the previous year. The increase was primarily driven by growth in both tax and non-tax revenues.

Tax revenue reached MVR 9.5 billion, a slight increase from MVR 9.4 billion in 2024. Meanwhile, non-tax revenue surged to MVR 2.8 billion, compared to MVR 1.98 billion last year.

Green tax collections saw the most significant growth, nearly doubling to MVR 617.7 million, up from MVR 361.9 million in 2024. Additionally, the Goods and Services Tax (TGST) from the tourism sector contributed MVR 3.8 billion, a slight increase from MVR 3.6 billion in the same period last year.

Other key revenue items included the airport service charge, which collected MVR 490.5 million, and the airport development fee, generating MVR 492.8 million, both showing year-on-year increases.

On the expenditure side, the Government spent MVR 10.5 billion so far in 2025, down from MVR 13.2 billion in the same period last year. The majority of the expenditure was on recurrent costs, including MVR 9.7 billion on ongoing expenses and MVR 804.5 million on capital projects.

Recurrent spending included MVR 3.7 billion for salaries, allowances, and pensions, as well as MVR 5.9 billion on administrative expenses, which saw a decrease compared to MVR 6.5 billion last year.

The State’s primary balance has shifted to a surplus of MVR 1.9 billion, a significant improvement from a deficit of MVR 1.6 billion in the same period last year. The overall balance of the budget for the current fiscal year stands at MVR 3.5 billion in surplus.