State revenues and grants rose to USD 1 billion during the first four months of the year, marking a 7.5 per cent increase compared to the USD 930 million collected during the same period last year, according to the Ministry of Finance and Public Enterprises.
The figures were published in the ministry’s latest Weekly Fiscal Developments report. The ministry stated that the increase in revenue, supported by continued growth in the tourism sector, resulted in a fiscal surplus of USD 64.86 million by the end of April.
Tourism Goods and Services Tax (TGST) remained the largest contributor to revenue growth during the period. Revenue collected through TGST reached USD 330.91 million, representing an 11.7 per cent increase compared to the USD 298.18 million collected during the corresponding period in 2025.
As of 30 April 2026, total tax revenues stood at USD 797.66 million, reflecting a 13 per cent increase compared to the same period last year.
Meanwhile, government expenditure also increased during the first four months of the year. Total state expenditure reached USD 930 million, up 13.8 per cent from the USD 817.01 million recorded during the same period in 2025.
According to the ministry, recurrent expenditure increased by 11.1 per cent, mainly due to rising spending on salaries and allowances for state employees.
Expenditure on employee compensation reached USD 291.86 million, which the ministry attributed to the implementation of a pay harmonisation policy aimed at standardising salaries across the public sector.
Total spending on salaries, wages, and pensions rose to USD 343.82 million, marking a 10.1 per cent increase compared to the previous year.