Two kinds of figure appear on this page. What the
government actually collected and spent, published monthly by the Ministry
of Finance since 2017, and what it planned to, from the approved and
revised budget. A year that has not closed yet has no actual figure for the
full year, only a budget. Millions of MVR.
In 2025 the government collected
40.76 bn and spent 44.22 bn, a
deficit of
3.45 bn, against
10.79 bn the year before.
6 months into 2026 it has collected
22.50 bn and spent 23.81 bn.
The record, 2017 to 2025
Revenue and spending, by year
Complete years only, millions of MVR.
Revenue & grantsSpending
Surplus or deficit, by year
Revenue minus spending in each complete year, millions of MVR.
SurplusDeficit
Each year here is the twelve published monthly releases
added together, not a separately published annual figure. The Ministry of
Finance notes that figures for 2024 and 2025 may still change while
reconciliation continues. MMA's annual table reports
higher spending for 2020, 2021, 2022 (by
4.01 bn, 3.47 bn, 3.06 bn respectively); recurrent
spending agrees exactly and the whole difference sits in capital spending,
where the Ministry records updated PSIP figures from 2024.
2026 so far
Revenue collected i
22.50 bn
Jan–Jun 2026 · up 11.8% on 2025
Spending i
23.81 bn
Jan–Jun 2026 · up 25.3% on 2025
Balance so far i
−1.32 bn
deficit, Jan–Jun 2026 · a 1.13 bn surplus in 2025
6 of 12 months published. That is
56% of the 40.37 bn approved for
the year in revenue and 48% of the
49.21 bn approved in spending. Neither is a shortfall:
money does not arrive evenly, and over
2023 to 2025,
49% to 52% of the year's revenue and 43% to 48% of its
spending had landed by the end of Jun.
Month by month
Revenue vs spending, monthly i
Millions of MVR per month,
Jan 2017–Jun 2026.
Revenue & grantsExpenditure
Monthly surplus / deficit i
Millions of MVR,
Jan 2017–Jun 2026.
SurplusDeficit
Spending is back-loaded: Dec alone is
typically 12% of the year, against an even 8.3% a
month. Median of complete years, 2017 to
2025.
What the deficit leaves behind
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.
Foreign financingDomestic financing
Budget detail by category
MMA's breakdown of the year's revenue and spending lines. For
a year that has not closed, these are budget lines rather than what was
actually collected and spent. The
Budget explorer holds the same plan line by line.
Sets the two breakdowns below.
Where the money comes from
Tax, non-tax and grants sum to 40.37 bn,
each itemised into its published components beneath.
2026, millions of MVR.
Tax revenueMVR 31.30 bn
GST on tourismMVR 11.47 bn
Goods & services taxMVR 5.62 bn
Business profit taxMVR 4.43 bn
Import dutyMVR 3.13 bn
Green taxMVR 2.40 bn
Airport service chargeMVR 2.28 bn
Bank profit taxMVR 1.24 bn
Income taxMVR 472 m
Other taxesMVR 263 m
Non-tax revenueMVR 8.70 bn
Other non-tax revenueMVR 6.04 bn
Resort lease rentMVR 2.03 bn
Net sales to public enterprisesMVR 627 m
Capital revenueMVR 2 m
GrantsMVR 374 m
Where it goes
The spending lines sum to 49.21 bn.
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 & wagesMVR 8.69 bn
Other allowancesMVR 6.11 bn
Transport, communication & utilitiesMVR 2.83 bn
Interest paymentsMVR 5.56 bn
Capital expenditureMVR 9.28 bn
Subsidies, welfare & other costs iMVR 16.75 bn
For 2026 MMA also reports a
primary balance of −3.28 bn (the balance before interest), meaning 5.56 bn of the −8.84 bn balance is interest on past borrowing.
The interest burden over time is on
Budget in context.