Maldives Government Expenditure Reaches MVR 37.2 Billion, Deficit at MVR 3.85 Billion

According to the latest Weekly Fiscal Developments Report from the Ministry of Finance, total government expenditure reached MVR 37.21 billion by October 22, 2026, a 17 percent increase compared to the same period last year. Operating costs rose to MVR 32.00 billion, while capital expenditures for development projects increased to MVR 5.21 billion. Spending on subsidies surged by 58.6 percent to MVR 4.31 billion, and Aasandha expenditures climbed to MVR 1.94 billion. Salaries and pensions totalled MVR 12.05 billion. Government revenue and aid amounted to MVR 33.36 billion, a 5.6 percent increase from MVR 31.60 billion in 2025, driven largely by a 9.8 percent rise in tax revenue. GST from tourism remained the largest revenue source at MVR 8.87 billion, while business and property taxes rose 21.8 percent to MVR 5.97 billion, and import duties increased 11 percent to MVR 2.82 billion. Despite a primary surplus of MVR 0.27 billion, the overall fiscal balance recorded a deficit of MVR 3.85 billion.