The Maldives has recorded a primary budget surplus of MVR 2.78 billion, showing a continued improvement from the previous year, when the primary balance stood at a deficit of MVR 5.89 billion.

According to the latest Weekly Fiscal Development Report, Goods and Services Tax (GST) remained the largest contributor to tax revenues, generating MVR 14.37 billion, representing the highest share of the overall tax inflow. Non-tax revenues continued to be led by Fees and Charges, which totalled MVR 3.88 billion, including Airport Development Fees, Expatriate Quota Fees, and other administrative charges. Property income, including resort rents and land-use fees, contributed MVR 2.23 billion, supporting overall revenue performance.

On the expenditure side, administrative and operational expenses amounted to MVR 18.25 billion, forming the largest component of recurrent spending. Meanwhile, MVR 12.92 billion was spent on salaries, wages and pensions. Total expenditure for the period stood at MVR 36.4 billion, comprising MVR 31.19 billion in recurrent spending and MVR 5.21 billion in capital expenditure.

Among Government offices, the Ministry of Education recorded the highest budget utilisation, spending approximately MVR 3.45 billion. The Ministry of Construction, Housing and Infrastructure followed with MVR 3.45 billion. Several other ministries also recorded steady utilisation as the year approaches its final quarter.

Transfers to Sovereign Development Fund increased by 84.9 per cent from MVR 1.28 billion to MVR 2.36 billion, reflecting continued commitment to strengthening debt repayment capacity.