The Maldives received USD 32.4 million in grants during the first eight months of this year, exceeding the USD 24.2 million estimated in the State Budget for the entire year, statistics from the Ministry of Finance and Public Enterprises show.
The Ministry's latest Weekly Fiscal Developments report shows that the State had received USD 32.4 million in grants by the end of August. The State Budget estimates that USD 24.2 million will be received in grants during the entire year.
Grant receipts during the first eight months of this year were also higher than during the corresponding period last year. The State received USD 16.4 million in grants during the same period last year.
Ministry statistics show that the State received USD 1.86 billion in revenue and grants during the first eight months of this year. This represents an increase of 6.2 per cent compared with revenue received during the corresponding period last year.
The Ministry attributed the USD 109.6 million increase in State revenue during the period mainly to higher tax revenue. Tax revenue rose by 8.5 per cent, from USD 1.34 billion to USD 1.45 billion.
State expenditure also increased during the period, reaching USD 2 billion. This was 17 per cent higher than the USD 1.71 billion spent during the corresponding period last year.
Recurrent expenditure rose by 18.6 per cent, from USD 1.48 billion to USD 1.75 billion, while capital expenditure increased by 6.9 per cent, from USD 235.4 million to USD 251.6 million.
The State recorded a primary surplus of USD 82.4 million during the period, representing the amount by which revenue and grants exceeded expenditure when debt and interest are excluded. The primary surplus was 68.6 per cent lower than the USD 262.0 million recorded in the previous year.
The overall budget balance, including debt and interest, stood at a deficit of USD 138.1 million. By comparison, the budget recorded a surplus of USD 42.7 million during the corresponding period in 2025.