According to the Fiscal Developments Report compiled by the Ministry of Finance up to the 11th of this month, the state has received MVR 9.9 billion in Tourism Goods and Services Tax (TGST) from the tourism sector. This represents a 14.1% increase compared to 2024. During the same period, the total revenue and grants received by the state amounted to MVR 36 billion, marking a 10.5% improvement over the previous year. Total tax revenue reached MVR 26.9 billion.
The state’s total expenditure stood at MVR 37.9 billion, which is a 12.7% decrease compared to the previous year. The most significant increase in expenditure was attributed to subsidies, with MVR 3.4 billion spent on them. Furthermore, MVR 7.3 billion was expended under the Public Sector Investment Program (PSIP). Spending on the development of health services amounted to MVR 443.0 million, a substantial 219.0% increase compared to 2024. A total of MVR 4.4 billion was spent on transportation, with MVR 3.2 billion of this being airport-related PSIP expenditure.
The overall budget balance is currently at a deficit of MVR 1.9 billion. This is a significant 82.5% reduction when compared to the MVR 10.8 billion deficit recorded in 2024.
