Maldives received USD 32.4 million in grants during the first eight months of this year, surpassing the USD 24.2 million projected for the entire year, according to the Ministry of Finance and Public Enterprises.

The ministry’s latest Weekly Fiscal Developments report shows that grant receipts through the end of August were more than double the USD 16.4 million received during the same period last year.

Total government revenue and grants reached USD 1.86 billion during the first eight months, representing a 6.2 percent increase compared with the corresponding period in 2025.

The ministry attributed the USD 109.6 million rise mainly to stronger tax collections.

Tax revenue increased by 8.5 percent, climbing from USD 1.34 billion last year to USD 1.45 billion this year.

Government spending also rose during the period, reaching USD 2 billion.

This was 17 percent higher than the USD 1.71 billion recorded during the same period last year.

Recurrent expenditure increased by 18.6 percent, from USD 1.48 billion to USD 1.75 billion.

Capital spending rose by 6.9 percent, reaching USD 251.6 million compared with USD 235.4 million a year earlier.

Despite the increase in spending, the government recorded a primary surplus of USD 82.4 million.

The figure represents revenue and grants remaining after expenditure, excluding debt and interest payments.

However, the primary surplus was 68.6 percent lower than the USD 262 million recorded during the corresponding period last year.

When debt and interest payments are included, the overall budget balance stood at a deficit of USD 138.1 million.

The government recorded a surplus of USD 42.7 million during the same period in 2025.

The figures show that although grant receipts and tax revenue have improved, rising government expenditure and debt-related costs continue to weigh on the country’s fiscal position.