State spending up 16%, TGST revenue grows by 5%

8 hours ago

As of October 29, the state’s total revenue and grants reached MVR 34.52 billion, marking a 5.3 percent increase from the MVR 32.79 billion recorded during the corresponding period in 2023, according to the latest Weekly Fiscal Developments report published by the Ministry of Finance and Public Enterprises. The growth was primarily driven by higher tax revenue, which rose by 9.1