State revenue sees 8.3% hike to reach MVR 17.6 billion

The government of Maldives received MVR 17.6 billion in revenue and grants as of 19 June 2025, marking an 8.3 per cent increase compared to the same period last year, according to the Ministry of Finance.

The figures were published in the Ministry’s Weekly Fiscal Development Report. The report shows that tax revenue accounted for MVR 13.6 billion, representing 77.4 per cent of total revenue received so far this year.

Revenue from the green tax increased by 93.8 per cent compared to the same period in 2024, driven by changes in tax rates. Income from airport service charges rose by 50 per cent, while re-export royalty revenue also saw a year-on-year increase.

Combined tax and non-tax revenue from airport development fees recorded a 47.7 per cent rise compared to the same period last year. This increase corresponds with a 9.5 per cent growth in tourist arrivals, surpassing one million visitors by mid-June.

As of 19 June 2025, the state had received 44.1 per cent of its budgeted revenue and grants for the year. Meanwhile, 32.9 per cent of total budgeted expenditure had been recorded during the same period.

The report also indicated a 45.6 per cent increase in deposits made to the Sovereign Development Fund, reflecting the rise in overall revenue.