Government revenue exceeded projections in March, propelled by a surge in tourist arrivals and a subsequent rise in tax collections, the Ministry of Finance has reported.
The strong performance is attributed to an 18.8 percent year-on-year increase in tourist arrivals during February, which bolstered collections from key sources such as the Tourism Goods and Services Tax (TGST), Green Tax, and airport-related taxes and fees. The Maldives Inland Revenue Authority (MIRA) recorded a total revenue of MVR 4.03 billion for the month, combining local currency and USD collections. The positive figures indicate a degree of resilience in the state's coffers, even as global economic uncertainties persist