T-GST growth pushes revenue to MVR 15.4bn; MVR 1bn surplus by April end
The figure marks a 7.5% increase compared to MVR 14.3 billion recorded during the same period last year.
The Ministry of Finance and Public Enterprises reported that state revenue and grants reached MVR 15.4 billion as of 30 April 2026, according to the latest Weekly Fiscal Development Report released on Tuesday.
The figure marks a 7.5% increase compared to MVR 14.3 billion recorded during the same period last year. The report also showed a fiscal surplus of MVR 1.0 billion by the end of April.
Revenue from Tourism Goods and Services Tax (T-GST) remained the main contributor to the increase in state income. T-GST revenue rose from MVR 4.6 billion in the corresponding period of 2025 to MVR 5.1 billion this year, reflecting an 11.7% increase.
Total tax revenue reached MVR 12.3 billion by 30 April, representing a 13.0% increase compared to the same period last year.
State expenditure totalled MVR 14.3 billion during the review period, up 13.8% from MVR 12.6 billion recorded a year earlier. Recurrent expenditure increased by 11.1% to MVR 12.6 billion.
The report showed that expenditure on employee salaries and benefits recorded the largest increase among spending categories. As of the end of April, MVR 4.5 billion had been spent on salaries and benefits, marking a 10.5% increase compared to the same period in 2025.
Total expenditure on salaries, wages and pensions reached MVR 5.3 billion, reflecting a 10.1% increase year-on-year. The report noted that a significant portion of the pay equalisation policy has already been implemented.
According to the ministry, higher T-GST collections contributed to state income exceeding expenditure during the period, resulting in the recorded fiscal surplus.
