The state revenue stood at MVR 2 billion by the end of the third quarter.

According to the statistics released by the Ministry of Finance, state revenue by the end of the third quarter stood at MVR 20.34 billion. The projected state revenue for the year was MVR 24.27 billion.

The statistics show that the revenue by the end of quarter three was an increment of MVR 5.36 billion, in comparison to the same period last year. The state posted a revenue of MVR 14.9 billion by the end of the third quarter of last year.

The projected revenue through tax as per the budget books are almost complete, as per the recently published statistics. As such, the government had projected revenue of MVR 15.3 billion through taxes for the entire year, while the figure stood at MVR 14.87 billion by the end of September. The same period last year saw a revenue of MVR 10.6 billion via taxes.

While an entire quarter is still remaining, an estimate based on the statistics by Maldives Inland Revenue Authority (MIRA) suggests that a further MVR 30 million in revenue could possibly be made through taxes.

Revenue outside of tax stood at MVR 5.3 billion. The majority of this was taken by fees and rental income. As such fees and charges were at MVR 1.9 billion, resort rent was at MVR 1.35 billion, and MVR 635 million as fines.