The Maldives’ financial standing has notably improved during the first six months of this year, with total state revenue and foreign grants reaching USD 1.45 billion by 2 July, according to the Ministry of Finance And Public Enterprises. This fiscal performance stems from a surge in tax collections, particularly corporate income taxes and levies on goods and services, the ministry’s Weekly Fiscal Developments report revealed.
Total revenue climbed by USD 136.19 million, or 10.4 per cent, compared to the USD 1.32 billion collected during the 2025 period, the report stated. Tax receipts constitute the largest share of this income, rising 13 per cent to USD 1.12 billion from USD 992.22 million the previous year.
Corporate income tax generated USD 110.25 million, marking a 6.2 per cent increase from 2025, while taxes on goods and services yielded USD 622.57 million, an increase of USD 54.18 million, or 9.6 per cent. General levies generated USD 188.07 million, with the tourism sector contributing USD 428.02 million.
State expenditures reached USD 1.52 billion, a 21.7 per cent, or USD 272.37 million, rise from the USD 1.25 billion spent last year. Elevated spending on civil servant salaries and subsidies to stabilise essential costs drove this growth.
Salaries and wages reached USD 239.95 million, within a total of USD 518.81 million for personnel costs. Recurrent expenditures total USD 1.32 billion, against capital spending of USD 194.55 million. The state recorded a primary surplus of USD 110.25 million, ministry representatives observed; a budget deficit of USD 63.29 million persists.