The Government has reported a State budget surplus of MVR 1.57 billion as of May 1, 2025, a significant turnaround from the MVR 2.12 billion deficit recorded during the same period last year.

According to the Ministry of Finance and Planning’s Weekly Fiscal Development Report, the overall balance including financing and interest costs stood at MVR 1.57 billion. The primary balance, which excludes financing and interest expenses, reached MVR 3.23 billion. This marks a more than sixfold increase from the MVR 449.8 million reported in the same period in 2024.

Tax revenue made up 78 per cent of total revenue and grants, with non-tax revenue accounting for 21 per cent and grants contributing 1 per cent. The largest sources of tax revenue were the Tourism Goods and Services Tax, General Goods and Services Tax, and Business and Property Tax.

Among non-tax sources, the main contributors were registration and licence fees, followed by rent from resorts and the Airport Development Fee.

On the expenditure side, the highest spending was recorded in grants, contributions and subsidies. This includes spending on Aasandha, council grants and other subsidies. This was followed by expenditure on salaries and wages, and then employee allowances.

In terms of budget utilisation by office, the Ministry of Education recorded the highest expenditure, followed by the National Social Protection Agency (NSPA), and the Maldives Police Service.