Statistics released by the Ministry of Finance show that the revenue received by the state so far this year has increased by 29 percent, providing a positive start to the state's financial situation.
According to the ministry's weekly fiscal report, as of the 26th of last month, the state received a total of MVR 7.8 billion in revenue and grants, while total expenditure stood at MVR 5.9 billion.
Compared to this period last year, revenue has shown significant growth.
In this regard, compared to the MVR 6 billion received in 2025, revenue received this year has increased by 29.3 percent. Of this, 83 percent consists of tax revenue.
The largest growth in tax revenue this year was observed from the Tourism Goods and Services Tax (TGST). Accordingly, MVR 2.3 billion was received as TGST, which is an increase of 39.4 percent compared to last year.
During this period, MVR 3.2 billion was received as GST, marking a 32.1 percent increase compared to the same period last year.
Additionally, MVR 2.2 billion was received from taxes on business and goods. Regarding state expenditures, although total spending remained relatively stable compared to last year, the cost of employee salaries and benefits increased by 9.6 percent.
During this period of the year, MVR 2.64 billion was spent on salaries and pensions, which includes the increased amounts resulting from pay harmonization. Along with this, the surplus, which stood at MVR 98.2 million during the same period last year, has risen to MVR 1.9 billion this year.
Furthermore, the amount deposited into the Sovereign Development Fund (SDF) also increased by 2.5 percent, reaching MVR 287.1 million.
Looking at foreign currency revenue, the state received USD 222.8 million during this period. This marks the first time this report has been publicized since the beginning of this year.
Finance stated that at the start of every financial year, there are delays in reconciling financial accounts due to various reasons.
Specifically, the ministry said that the publication of the report was delayed due to changes brought to the framework of the state's accounting system this year.
