State revenue rises to MVR 12.4 billion; Green Tax nearly doubles
The primary balance of the state budget is currently in surplus, standing at over MVR 1.9 billion, compared to a deficit of MVR 1.6 billion last year.
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The Maldives’ state revenue reached MVR 12.4 billion as of 24 April 2025, reflecting an increase of approximately 6.9 per cent compared to the same period last year, according to the Ministry of Finance’s Weekly Fiscal Developments Report released today.
The revenue for the period up to 24 April 2024 was MVR 11.6 billion.
Breakdown of the 2025 revenue figures shows:
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Tax revenue: MVR 6.5 billion (compared to MVR 9.4 billion last year)
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Non-tax revenue: MVR 2.8 billion (compared to MVR 1.98 billion last year)
The largest share of tax revenue was generated through the Tourism Goods and Services Tax (TGST), which brought in MVR 3.8 billion, up from MVR 3.6 billion during the same period in 2024.
Green tax revenue also saw significant growth, reaching MVR 617.7 million compared to MVR 361.9 million in the previous year.
Other revenue sources included:
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Airport Service Charge/Departure Tax: MVR 490.5 million (up from MVR 380.7 million)
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Airport Development Fee: MVR 492.8 million (up from MVR 389.1 million)
Total government expenditure stood at MVR 10.5 billion, a decrease from MVR 13.2 billion in the same period last year. This included:
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Recurrent expenditure: MVR 9.7 billion
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Capital expenditure: MVR 804.5 million
Within recurrent expenditure:
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Salaries, allowances and pensions: MVR 3.7 billion (compared to MVR 3.3 billion last year)
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Administrative expenses: MVR 5.9 billion (down from MVR 6.5 billion)
The primary balance of the state budget is currently in surplus, standing at over MVR 1.9 billion, compared to a deficit of MVR 1.6 billion during the same period last year.
