Total government revenue reached MVR 30.8 billion at the start of October, according to the Finance Ministry's weekly fiscal report. That is MVR 536 million more than the same point last year.
Tax revenue stood at MVR 23.8 billion, up MVR 1.5 billion, though growth has slowed. Non-tax revenue was MVR 6.5 billion, down MVR 1 billion. Even so, 75 percent of the year's MVR 8.7 billion non-tax target has been collected, and the ministry expects it to be met by year-end.
The slowdown is driven by tourism. Receipts from the Tourism Goods and Services Tax and the Green Tax were both lower than last year, while airport departure tax held up. Tourism accounts for more than 60 percent of state revenue, so lower than expected arrivals raise the risk of missing targets.
