The Ministry of Finance and Public Enterprises has announced that, as of 23 July, the state had collected USD 1.56 billion in revenue and grants—equivalent to 60 percent of the projected USD 2.62 billion for the fiscal year.
This figure represents a 10.9 percent increase over the same period in 2025, driven largely by a rise in tax receipts.
Tax revenue alone climbed to USD 1.19 billion, up 12.1 percent from the previous year. Within the tax base, the Goods and Services Tax (GST) remained the largest contributor, delivering USD 648.51 million—a 9.7 percent gain year‑on‑year.
The GST breakdown shows strong performance in both its components—General GST (GGST) rose 13.6 percent to USD 201.04 million, while Tourism GST (TGST) increased 8 percent to USD 447.47 million, marking the highest growth among tax categories.
On the expenditure side, total recurrent and capital spending reached USD 1.65 billion, up 19.7 percent compared with the same period last year. The increase reflects higher outlays for civil‑servant salaries and wages, 9.5 percent to USD 551.23 million, the national health insurance scheme Aasandha, 14.8 percent to USD 77.82 million), and subsidies, which surged 79.0 percent to USD 207.52 million amid global oil and commodity price spikes linked to the ongoing conflict in the Middle‑East.
Despite the robust revenue growth, the fiscal balance shows a primary surplus of USD 97.28 million but an overall deficit of USD 90.79 million.