Maldives revenue rises to MVR 18.6 billion, marking 8.9% increase

The state received MVR 18.6 billion in revenue and grants as of 26 June 2025, reflecting an 8.9 per cent increase compared to the same period last year, according to the Ministry of Finance’s Weekly Fiscal Development Report.

The report shows that tax revenue accounted for MVR 14.2 billion, which represents 76.5 per cent of the total revenue collected so far this year. The rise in overall revenue was attributed to increases in several key tax categories.

Green tax revenue recorded a 92.0 per cent increase, while airport service charge revenue rose by 55.0 per cent. Re-export royalty revenue also grew compared to the same period last year, and personal income tax revenue increased by 21.1 per cent.

Combined tax and non-tax revenue from airport development fees increased by 52.5 per cent. This was primarily due to a 9.1 per cent increase in tourist arrivals in the Maldives this year, surpassing one million visitors by the end of June.

Revenue from land acquisition and conversion fees, as well as lease period extension fees, also increased during the review period.

As a result of the overall rise in revenue, deposits into the Sovereign Development Fund increased by 60.1 per cent, reaching MVR 1.0 billion.

According to the Finance Ministry, the state has so far received 46.7 per cent of the estimated revenue and grants set out in the 2025 national budget. At the same time, 36.5 per cent of the total expenditure budget has been recorded.