Government tax revenue increased by 9.4 per cent to MVR 23.3 billion as of 24 September, while total State revenue and grants rose by five per cent to MVR 30.2 billion, the Ministry of Finance and Public Enterprises has reported.

The increase in tax revenue was driven by higher collections from General Goods and Services Tax (GGST), import duties and Tourism Goods and Services Tax (TGST). GGST revenue rose by 10.7 per cent to MVR 4.1 billion, import duties increased by 13 per cent to MVR 2.4 billion, and TGST collections grew by 2.7 per cent to MVR 7.8 billion.

Non-tax revenue declined by 11.5 per cent to MVR 6.3 billion.

Government expenditure rose by 18.8 per cent to MVR 33.5 billion during the period. Recurrent expenditure increased by 18.6 per cent to MVR 28.8 billion, while capital expenditure grew by 18.7 per cent to MVR 4.6 billion.