The Maldives government has reported a remarkable fiscal surplus of MVR 1,459.1 million as of March 6th, 2025, according to the latest Weekly Fiscal Developments report. This surplus is the result of robust revenue growth and prudent expenditure management during the first three months of the year.
The report highlights the key factors behind this positive fiscal performance. The cumulative revenue and grants collected from January 1st to March 6th, 2025, reached an impressive MVR 7,198.0 million, with the Tourism Goods and Services Tax (TGST) being the primary driver of this revenue growth.
On the expenditure side, the government’s total spending during the period amounted to MVR 5,739.0 million. The largest components of this expenditure were administrative and operational expenses, which accounted for MVR 2,909.0 million, and salaries, wages, and pensions, which totaled MVR 2,434.5 million. Capital expenditure, which includes investments in infrastructure and assets, stood at a relatively lower MVR 394.6 million.
Elaborating on the revenue figures, the report reveals that tax revenues reached MVR 5,948.0 million, with the TGST contributing a significant MVR 2,399.4 million. Non-tax revenue, which includes earnings from fees, charges, and property income, amounted to MVR 1,209.1 million.
“The Maldives’ strong fiscal performance in the first quarter of 2025 is a testament to the government’s commitment to prudent financial management and its ability to capitalize on the country’s thriving tourism industry,” said Dr. Aishath Indhira Aziz, Minister of Finance and Treasury. “This surplus will allow us to strengthen our social welfare programs, invest in critical infrastructure, and bolster the long-term resilience of the Maldivian economy.”
The Maldives’ total budget for 2025 is approved at MVR 56,647.6 million, with total expenditure projected at MVR 49,178.5 million and revenue estimates at MVR 39,790.0 million. The government’s positive fiscal balance so far reflects its ability to maintain a balance between revenue collection and controlled spending, positioning the country for continued economic growth and development.
For more information, please visit the Ministry of Finance and Treasury website or contact the ministry’s Public Relations Department.
