The Government has received over MVR 20 billion in revenue and grants this year; a significant increase compared to last year. 

According to the Finance Ministry’s Weekly Fiscal Development Report, as of July 10, the Government has received MVR 20.1 billion in revenue and grants. This reflects an 8.9 per cent increase in total revenue grants compared to the same period last year. 

Out of the total MVR 20.1 billion in revenue and grants received this year, the Government collected MVR 15.4 billion from taxes, accounting for 76.3 per cent of the total income. 

Due to the increased green tax rate, revenue from green tax surged by 96.5 per cent compared to the same period last year, amounting to MVR 1.1 billion.

Additionally, revenue from airport service charges totalled MVR 928 million, reflecting a 54.4 per cent increase compared to the same period last year.

Revenue from airport development fees rose by 53.3 per cent compared to the same period last year, totalling MVR 940 million. This surge is largely attributed to a 9.1 per cent year-on-year increase in tourist arrivals to the Maldives, with over one million visitors recorded so far this year.

With the rise in revenue, deposits into the Sovereign Development Fund (SDF) also saw a significant increase, climbing by 54.4 percent to reach MVR 1.1 billion.