Maldives budget surplus reaches MVR 2.2 billion by mid-April
The report shows that the government collected MVR 11.7 billion in total revenue during the period.
Maldives’ state budget surplus increased to MVR 2.2 billion as of 17 April, according to the Ministry of Finance’s Weekly Fiscal Developments report released on Tuesday.
The report shows that the government collected MVR 11.7 billion in total revenue during the period, representing an increase of approximately MVR 700 million compared to the same period last year.
Withholding tax contributed the largest share of revenue in the preceding week, while key revenue sources also included:
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Tourism Goods and Services Tax (TGST): MVR 3.7 billion (up from MVR 3.4 billion last year)
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Green Tax: MVR 572.5 million (up from MVR 334.9 million last year)
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Airport Development Fee: MVR 452.6 million (up from MVR 327 million last year)
On the expenditure side, the government spent MVR 9.5 billion as of 17 April, with the largest weekly expenditure reported in subsidies. For the same period last year, government expenditure was recorded at MVR 12.7 billion.
Breakdown of government expenditure for the current period includes:
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Salaries, allowances and pensions: MVR 3.6 billion (compared to MVR 3.3 billion last year)
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Administrative expenses: MVR 5.2 billion (compared to MVR 6.1 billion last year)
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Capital expenditure: MVR 743.1 million (compared to MVR 3.2 billion last year)
