The Public Ledger

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Government finances

Central government finance, published statistics from MMA (annual figures; source Ministry of Finance; recent years provisional). Millions of MVR.

Sets the tiles and the two breakdowns below; the charts show every year.
Revenue & grants i
40.37 bn
2026
Expenditure i
49.21 bn
2026
Overall balance i
−8.84 bn
deficit, 2026 · -7.1% of GDP
Primary balance i
−3.28 bn
before interest, 2026 · 5.56 bn of the deficit is interest

Revenue vs expenditure, annual

Millions of MVR, 2020–2026.

0 m12.92 bn25.84 bn38.76 bn51.68 bn2020202120222023202420252026
Revenue & grantsExpenditure

Overall balance, annual

Surplus or deficit, millions of MVR.

2020: deficit of MVR 13.53 bn2021: deficit of MVR 11.51 bn2022: deficit of MVR 11.03 bn2023: deficit of MVR 10.74 bn2024: deficit of MVR 10.79 bn2025: deficit of MVR 6.41 bn2026: deficit of MVR 8.84 bn2020202120222023202420252026 0 m -13.53 bn
Surplus Deficit

How the government borrows i

Total borrowing to cover the deficit and roll over maturing debt, millions of MVR, increasingly from foreign sources. Where the deficit becomes debt: see Public debt.

0 m4.41 bn8.83 bn13.24 bn17.65 bn2020202120222023202420252026
Foreign financingDomestic financing

Revenue vs spending, monthly i

Millions of MVR per month, Jan 2024–Dec 2025.

0 m1.75 bn3.51 bn5.26 bn7.02 bn20242025
Revenue & grantsExpenditure

Monthly surplus / deficit i

Millions of MVR, Jan 2024–Dec 2025.

Jan 2024: surplus of MVR 812 mFeb 2024: deficit of MVR 921 mMar 2024: deficit of MVR 1.23 bnApr 2024: deficit of MVR 787 mMay 2024: deficit of MVR 1.74 bnJun 2024: deficit of MVR 419 mJul 2024: deficit of MVR 459 mAug 2024: deficit of MVR 659 mSep 2024: deficit of MVR 1.68 bnOct 2024: deficit of MVR 1.52 bnNov 2024: deficit of MVR 1.62 bnDec 2024: deficit of MVR 2.90 bnJan 2025: surplus of MVR 1.22 bnFeb 2025: deficit of MVR 287 mMar 2025: surplus of MVR 833 mApr 2025: deficit of MVR 49 mMay 2025: deficit of MVR 616 mJun 2025: surplus of MVR 29 mJul 2025: surplus of MVR 194 mAug 2025: deficit of MVR 350 mSep 2025: deficit of MVR 583 mOct 2025: deficit of MVR 1.26 bnNov 2025: deficit of MVR 1.10 bnDec 2025: deficit of MVR 2.88 bn20242025 1.22 bn -2.90 bn
Surplus Deficit

Where the money comes from

Tax, non-tax and grants sum to the 40.37 bn total above, each itemised into its published components beneath. 2026, millions of MVR.

Tax revenue MVR 31.30 bn
GST on tourism MVR 11.47 bn
Goods & services tax MVR 5.62 bn
Business profit tax MVR 4.43 bn
Import duty MVR 3.13 bn
Green tax MVR 2.40 bn
Airport service charge MVR 2.28 bn
Bank profit tax MVR 1.24 bn
Income tax MVR 472 m
Other taxes MVR 263 m
Non-tax revenue MVR 8.70 bn
Other non-tax revenue MVR 6.04 bn
Resort lease rent MVR 2.03 bn
Net sales to public enterprises MVR 627 m
Capital revenue MVR 2 m
Grants MVR 374 m

Where it goes

The spending lines sum to the 49.21 bn total above. Operating costs are itemised beneath their group. From 2022 MMA stops splitting out subsidies, social welfare and other operating costs, so those fold into one grouped line; 2020–2021 itemise in full. 2026, millions of MVR.

Operating (goods & services) MVR 17.63 bn
Salaries & wages MVR 8.69 bn
Other allowances MVR 6.11 bn
Transport, communication & utilities MVR 2.83 bn
Interest payments MVR 5.56 bn
Capital expenditure MVR 9.28 bn
Subsidies, welfare & other costs i MVR 16.75 bn