The Maldivian government recorded a 7.6 percent increase in revenues and grants this year, compared to the same period last year.
According to the Finance Ministry’s Weekly Fiscal Development Report, the state received MVR 16.5 billion in revenue and grants as of 29 May. Tax revenue amounted to MVR 13 billion, accounting for 78.4 percent of total revenue. Revenues from General Goods and Service Tax, Tourist Goods and Service Tax and Green Tax increased by 14.8 percent over the same period last year, mainly due to changes in tax rates.
The government has so far received 41.6 percent of the projected revenue for this year. Meanwhile, 31.1 percent of the total estimated expenditure for the year has been spent.
