The Maldives recorded a budget surplus in the first four months of 2026, driven by increased revenue collection and stronger tax performance, according to the latest fiscal data released by the Ministry of Finance and Government Companies.
Figures from the ministry’s Weekly Fiscal Developments report show that total state revenue and grants reached MVR 15.4 billion by the end of April, reflecting a 7.5 percent increase compared to the same period last year, when revenue stood at MVR 14.3 billion.
By April 30, the government recorded a surplus of approximately MVR 1 billion, indicating that revenue outpaced expenditure during the period.
Tax revenue accounted for the bulk of the increase, totaling MVR 12.3 billion, up 13 percent from the previous year. A significant contribution came from Tourism Goods and Services Tax, which rose from MVR 4.6 billion to MVR 5.1 billion, marking an 11.7 percent increase.
Government spending also increased during the period, reaching MVR 14.3 billion, a 13.8 percent rise compared to MVR 12.6 billion in the same period last year.
Recurrent expenditure stood at MVR 12.6 billion, up 11.1 percent, with the largest share directed toward employee salaries and benefits. Spending on wages and benefits totaled MVR 4.5 billion, reflecting a 10.5 percent increase.
Overall expenditure on salaries, wages, and pensions reached MVR 5.3 billion, rising by 10.1 percent compared to the previous year, as the government continued implementing its pay harmonization policy.
The figures suggest improved revenue performance, particularly from the tourism sector, even as government spending trends upward during the year’s early months.
