Maldives revenue sees 6% hike; reaches MVR 17 billion

The state budget recorded MVR 17.0 billion in revenue and grants as of 12 June 2025, reflecting a 6.0 per cent increase compared to the same period in 2024, according to the latest figures released by the Ministry of Finance.

Tax revenue accounted for MVR 13.2 billion of the total. This increase follows adjustments to tax rates implemented under current revenue policies.

Green tax collections rose by 88.5 per cent, while revenue from airport service charges increased by 46.9 per cent compared to the same period last year. Revenue from airport development fees also grew by 44.5 per cent.

These gains are attributed in part to a 9 per cent year-on-year increase in tourist arrivals, with more than 1 million visitors recorded during the period.

In addition to revenue growth, contributions to the Sovereign Development Fund rose by 42.9 per cent.

The Ministry noted that the implemented revenue measures have supported increased fiscal intake without adversely affecting tourism activity.