Government revenue has increased in the first five months of the year, despite a significant drop in spending on development projects, according to the latest figures from the Ministry of Finance.
As of May 29, the government had spent MVR 1.4 billion on Public Sector Investment Program (PSIP) projects—substantially lower than the MVR 3.6 billion spent during the same period last year. This year’s state budget allocates MVR 12.4 billion for PSIP projects.
In contrast, government revenue has reached MVR 16.5 billion so far this year, marking a 7.6 percent increase compared to the same period in 2024. Of the total revenue collected, 78.4 percent came from taxes.
The Finance Ministry also reported that 41.6 percent of the total revenue projected in the 2025 budget has already been received, while only 31.1 percent of the estimated expenditure has been recorded so far.
As of May 29, the government had spent MVR 1.4 billion on Public Sector Investment Program (PSIP) projects—substantially lower than the MVR 3.6 billion spent during the same period last year. This year’s state budget allocates MVR 12.4 billion for PSIP projects.
In contrast, government revenue has reached MVR 16.5 billion so far this year, marking a 7.6 percent increase compared to the same period in 2024. Of the total revenue collected, 78.4 percent came from taxes.
The Finance Ministry also reported that 41.6 percent of the total revenue projected in the 2025 budget has already been received, while only 31.1 percent of the estimated expenditure has been recorded so far.
