Maldives records MVR 3.4 billion budget surplus

The Ministry of Finance has reported a budget surplus of MVR 3.4 billion as of 10 April, with state revenue reaching MVR 11.2 billion.

The figures were published in the Weekly Fiscal Development report released by the ministry on Tuesday.

According to the report, total government revenue by 10 April was MVR 11.2 billion, compared to MVR 10.7 billion during the same period in 2024.

Breakdown of revenue sources as of 10 April 2025 includes:

Tourism-related taxes accounted for a significant share of the revenue. Tourism Goods and Services Tax (TGST) collections totalled MVR 3.6 billion by 10 April, an increase from MVR 3.1 billion during the same period last year. Green Tax collections stood at MVR 556.9 million, compared to MVR 327.2 million in 2024.

Deposits to the Sovereign Development Fund also increased. By 10 April, MVR 437.1 million had been deposited, up from MVR 342 million during the corresponding period last year.

Government expenditure totalled approximately MVR 9 billion by 10 April 2025, compared to MVR 11.8 billion during the same period in 2024. This year’s expenditure includes loan repayments amounting to MVR 2.4 billion, compared to MVR 847.9 million in the same period last year.

The primary budget balance rose from MVR 351.6 million in 2024 to MVR 3.4 billion in 2025. As a result, the total budget balance shifted from a deficit of MVR 1.1 billion in the same period last year to a surplus of MVR 2.1 billion this year.