The Ministry of Finance and Planning has reported a budget surplus of MVR 2.21 billion so far this year, supported by increased revenue and controlled Government expenditure.

In its latest Weekly Fiscal Development report, the Ministry stated that total State revenue and grants reached MVR 10.57 billion as of 26 March 2026, compared to MVR 9.59 billion during the same period last year, representing an increase of around 10.2 per cent.

The growth in revenue was largely driven by tax income, which rose from MVR 7.10 billion in the corresponding period of 2025 to MVR 8.62 billion this year.

Meanwhile, Government expenditure declined. Total spending stood at MVR 8.36 billion as of 26 March, down from MVR 9.22 billion recorded during the same period last year.

Recurrent expenditure, which covers day-to-day Government operations, fell from MVR 8.41 billion last year to MVR 7.45 billion this year.

In contrast, capital expenditure increased, rising from MVR 814.0 million in the same period of 2025 to MVR 908.3 million this year.

As a result, the primary budget surplus stands at MVR 2.88 billion. Additionally, the Government recorded an overall surplus of MVR 2.21 billion during the period, after accounting for MVR 669.8 million in financing and interest costs.

For comparison, the budget surplus during the same period last year stood at MVR 364.3 million.

Transfers to the Sovereign Development Fund also increased, reaching MVR 520.6 million compared to MVR 440.3 million in the corresponding period last year.