GST revenue at pre-COVID-19 levels

The GST collection as of the end of last year matched the pre-COVID-19 level, figures released by the Maldives Inland Revenue Authority (MIRA) have shown.

According to MIRA data, GST revenue stood at MVR 8 billion in 2019 before the COVID-19 outbreak. Similar to these figures, the amount collected as GST in 2021 exceeded MVR 8 million.

The economy is slowly stabilizing as tourism recovers after the global pandemic. This year, the Maldives has welcomed over one million tourists thus far.

While the tourism-dependent Maldives' economy is stabilizing, international financial institutions have highlighted the challenges facing the Maldives' economy. The institutions are urging the government to take quick steps to address and resolve the issues.