The state’s budget expenditure last year fell USD 324.60 million below initial estimates, according to the Budget Outcome Statement 2025 published by the Ministry of Finance and Public Enterprises. While the government originally projected to spend USD 3.19 billion in 2025, total expenditures concluded at USD 2.87 billion, marking a precise reduction of USD 324.60 million from the forecast.
The finance ministry stated that expenses were curtailed due to robust budget execution policies, modifications to state investment projects, and measures to control recurrent and capital expenditures under a strict framework dedicated to minimizing waste. Consequently, the budget deficit contracted to USD 285.43 million instead of the anticipated USD 609.60 million, a drop of exactly USD 324.60 million. Measured against the national gross domestic product, the deficit was compressed to 3.6 per cent, the ministry noted, marking a six-year low from 16.6 per cent in 2020, 10 per cent in 2021, 8.4 per cent in 2022, 10.5 per cent in 2023, and 9.9 per cent in 2024.
Public services, social protection, and subsidies remained entirely undisplaced, the ministry stated. Expenditures on civil servants’ salaries and allowances, projected at USD 907.90 million, amounted to USD 810.50 million, while debt interest payments were trimmed from USD 363.16 million to USD 311.16 million.
Actual revenue reached USD 2.59 billion, representing a USD 4.83 million increase over the initial USD 2.58 billion forecast, driven by tourism-related fees and non-tax revenues. Specifically, USD 77.82 million was generated from resort lease extension fees, USD 136.23 million from resort rent, and USD 51.49 million from work permit fees, the finance ministry stated. Financial operations and ongoing debt repayments continue along this disciplined path for the current year, the government asserted.