The strategic economic measures of the current administration have significantly bolstered the state’s financial standing, yielding USD 222.8 million in foreign currency revenue during the first two months of 2026.
According to the Weekly Fiscal Development of the Ministry of Finance, for the 8th week of 2026, the state recorded a total revenue and grants of MVR 7.8 billion between January 1, 2026 to February 26, 2026.
During the same period, total expenditure stood at MVR 5.9 billion. Consequently, the state achieved a record budget surplus of MVR 1.9 billion by the end of this period.
This represents a substantial 29.3% increment in revenue compared to the corresponding period last year. Last year, by the 8th week the state had received MVR 6.0 billion. Notably, 83% of the total revenue came from tax collection.
In terms of tax revenue, as of February 26, tax revenue reached a total of MVR 6.5 billion. The most significant growth was seen in Tourism Goods and Services Tax (TGST), which was reported at MVR 2.3 billion. This marked a 39.4% increase compared to last year.
Furthermore, the General GST collection stood at MVR 3.2 billion while taxes on business and profits accounted for MVR 2.2 billion.
While overall state expenditures remained stabilized, spending on employee salaries and benefits saw a 9.6% increase. This rise, totaling MVR 2.64 billion for salaries and pensions, is attributed to the adjustments made under the government’s pay harmonization policy.
The fiscal report also indicates that contributions to the Sovereign Development Fund (SDF) rose to MVR 287.1 million, which is a 2.5% increment compared to 2025.