The state received a total of MVR 34.52 billion in revenue and grants up to 29 October, a 5.3 percent increase on the MVR 32.79 billion received over the same period in 2025, according to the Finance Ministry's weekly fiscal developments report.
The main driver of the growth was tax revenue, which rose 9.1 percent to MVR 26.70 billion. Tourism Goods and Services Tax (TGST), the largest single contributor, increased 5 percent to MVR 9.32 billion, while taxes on business and property rose 23.7 percent to MVR 6.07 billion. The state also collected MVR 2.90 billion in import duties, MVR 4.63 billion in GST and MVR 1.88 billion in green tax. Among non-tax revenue, resort rent brought in MVR 2.27 billion, and grants amounted to MVR 0.53 billion.
On the expenditure side, total government spending over the period rose 16.2 percent to MVR 38.99 billion. Recurrent expenditure reached MVR 33.68 billion and capital expenditure MVR 5.30 billion. Salaries and allowances accounted for MVR 6.15 billion, administrative and operational costs MVR 20.28 billion, and infrastructure MVR 4.63 billion. A further MVR 10.81 billion was spent on grants and subsidies, including MVR 4.31 billion on subsidies, MVR 1.96 billion on Aasandha and MVR 2.08 billion in grants to councils.
As of 29 October, the overall budget balance stood at a deficit of MVR 4.47 billion, while the primary balance showed a deficit of MVR 0.33 billion.
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