The government ended last year with total revenue of MVR 34 billion and total expenditure of MVR 48 billion, according to data released by Maldives Monetary Authority (MMA).
The government ended 2024 with total revenue of MVR 34 billion and total expenditure of MVR 48 billion, according to data released by Maldives Monetary Authority (MMA).
According to statistics by MMA, Maldives recorded a deficit of 13 percent of GDP by the end of 2024.
The Finance Ministry reported that 76 percent of last year’s revenue, amounting to MVR 26 billion, was generated from taxes. Free aid totaled MVR 658 million, falling 44 percent short of the budgeted estimate of MVR 1.5 billion.
Operating costs and government salaries accounted for 70 percent of total spending, amounting to MVR 34 billion. Capital expenditures totaled MVR 15 billion, which is MVR 1 billion less than the budgeted amount.
Public Sector Investment Program (PSIP) projects received MVR 11 billion, while MVR 2.3 billion was spent on loan repayments.
Maldives’ GDP stood at MVR 109 billion last year, marking a 5.5 percent economic growth rate. MMA has forecasted growth of 6.4 percent for this year.
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