Budget records surplus as TGST revenue increases
Total revenue and grants reached MVR 13.6 billion, reflecting an increase of 11.6 per cent compared to MVR 12.2 billion recorded last year.
The Maldives’ state budget recorded a surplus of MVR 1.6 billion as of 16 April 2026, according to the latest weekly fiscal report issued by the Ministry of Finance and Public Enterprises.
Total revenue and grants reached MVR 13.6 billion, reflecting an increase of 11.6 per cent compared to MVR 12.2 billion recorded during the same period last year. Total expenditure rose to MVR 12.0 billion, up 16.9 per cent from MVR 10.3 billion.
Tax revenue stood at MVR 10.9 billion, marking a 19.7 per cent increase from MVR 9.1 billion in the corresponding period of 2025. Goods and Services Tax (GST) contributed MVR 5.9 billion, with Tourism Goods and Services Tax (TGST) accounting for MVR 4.3 billion. TGST receipts increased by 17.5 per cent compared to the previous year.
Other tourism-related revenues also increased. Green Tax collections reached MVR 768.0 million, up 33.5 per cent, while Departure Tax revenue rose by 39.1 per cent to MVR 649.5 million.
On the expenditure side, recurrent spending totalled MVR 10.6 billion, an increase of 14.6 per cent. Capital expenditure reached MVR 1.3 billion, rising by 39.9 per cent.
Within recurrent expenditure, MVR 4.0 billion was allocated to salaries and pensions, while MVR 6.7 billion was spent on administrative and operational costs. Subsidy expenditure reached MVR 1.4 billion, representing a 36.2 per cent increase compared to the same period last year.
The report also reflects updates to the presentation of public finances following recent changes to government structures. Adjustments have been made to align ministry and agency classifications with the current administrative framework.
In addition, changes to the reporting of expenditure for the Department of Judicial Administration have been implemented following the introduction of a block grant system on 9 April 2026. These expenditures have been removed from the main budget tables.
The Ministry stated that the data reflects ongoing revenue growth alongside increased expenditure, with the budget remaining in surplus during the period.
