Maldives has posted a budget surplus so far this year with State revenue exceeding spending as this Administration’s economic reform plan begins to take effect.
According to the Weekly Fiscal Development Report released by the Ministry of Finance and Planning, State revenue this year until 13 March was recorded as USD505.8 million while expenditure during that period was USD421.5 million.
The revenue reported during this period is 5.4 percent more than the USD479.9 million earned during the same period last year.
According to the figures of the first ten weeks of 2025, tax revenue was recorded at USD408.5 million, USD97.3 million in non-tax revenue while the government also received USD2.8 million as grants during this period.
The total expenditure reported during this period is 16 percent lower compared to last year, the figures showed. State expenditure stood at USD505.8 million during the same period last year.
During the first 10 weeks of this year, the largest share of government expenditure was on recurrent expenditure which amounted to USD395.6 million. Capital expenditure meanwhile stood at USD27.8 million, according to the fiscal data.
Revenue has increased over government expenditure, which is the result of many efforts being made by the government.
The positive fiscal start to the year comes at the back of the government's ongoing economic reforms and austerity measures to improve the country’s financial position.