According to the Weekly Fiscal Developments report, revenue and grants increased by MVR 2.4 billion from MVR 21.7 billion in the same period. Tax revenue rose 12.1 per cent or MVR 2.0 billion to MVR 18.4 billion from MVR 16.4 billion.
Atoll Times
According to the latest Weekly Fiscal Developments Report prepared by the Ministry of Finance and Public Enterprises as of July 23, 2026, the total revenue and grants received by the state during the period increased by 10.9 percent to MVR 24.1 billion compared to the same period last year. This was facilitated by higher tax revenue, including a sustained increase in Goods and Services Tax (GST).
According to the Weekly Fiscal Developments report, revenue and grants increased by MVR 2.4 billion from MVR 21.7 billion in the same period. Tax revenue rose 12.1 per cent or MVR 2.0 billion to MVR 18.4 billion from MVR 16.4 billion.
GST accounted for the largest share of tax revenue. 10.0 billion in GST during the period. This is an increase of 9.7 per cent or MVR 878.5 million compared to MVR 9.1 billion in the same period last year. Revenue from GST on general goods and services increased by 13.6 per cent to MVR 3.1 billion over the same period last year. This is an increase of MVR371.3 million over MVR2.7 billion in the same period last year. TGST on tourism goods and services, which accounted for the biggest increase in revenue, rose by 8.0 per cent or MVR 507.2 million to MVR 6.9 billion from MVR 6.4 billion.
As of July 23, 2026, the government has received 59.7 percent of the estimated MVR 40.4 billion in revenue and grants this year.
Recurrent and capital expenditure totalled MVR 25.5 billion. This is an increase of 19.7 per cent or MVR 4.2 billion compared to MVR 21.3 billion spent during the same period. This increase reflects sustained spending on salaries and allowances of public servants, health services and social security programmes.
Expenditure on salaries, wages and pensions increased by 9.5 per cent to MVR 8.5 billion over the same period last year. This is an increase of MVR 739.7 million over MVR 7.8 billion in the same period last year. This is a change following the November 2025 salary increase for government employees.
Aasandha expenditure stood at MVR 1.2 billion, an increase of 14.8 per cent or MVR 161.5 million over the MVR 1.1 billion spent in the same period. Subsidy expenditure increased by 79.0 percent to MVR 3.2 billion. This is an increase of MVR 1.4 billion compared to MVR 1.8 billion as on July 23 last year. Spending on subsidies has risen during the year due to the rise in oil and commodity prices in the world market, due to the ongoing war in the Middle East.
The financial statements as at 23 July 2026 showed a primary surplus of MVR 1.5 billion, while the overall balance stood at a deficit of MVR 1.4 billion.
