Tourism-Led Economic Resilience Boosts Tax Revenue as IMF Calls for Continued Reforms

Income tax revenue rose 28.5% to USD 175.10 million in first five months of 2026. MIRA data shows corporate tax USD 84.31 million (up 8.3%), non-resident tax USD 47.67 million (up 40%), banking sector tax USD 31.78 million (up 208%), individual tax USD 13.88 million (up 11.8%). IMF Article IV Mission (June 4-14) noted tourism's crucial role and improved resilience. IMF projects 1% growth in 2026, recovering to 4% in 2027. IMF warned of downside risks, high debt, and widening current account deficit, recommending fiscal reforms and structural changes.

Income tax revenue rose 28.5% to USD 175.10 million in first five months of 2026. MIRA data shows corporate tax USD 84.31 million (up 8.3%), non-resident tax USD 47.67 million (up 40%), banking sector tax USD 31.78 million (up 208%), individual tax USD 13.88 million (up 11.8%). IMF Article IV Mission (June 4-14) noted tourism's crucial role and improved resilience. IMF projects 1% growth in 2026, recovering to 4% in 2027. IMF warned of downside risks, high debt, and widening current account deficit, recommending fiscal reforms and structural changes.

Income tax revenue rose 28.5% to USD 175.10 million in first five months of 2026. MIRA data shows corporate tax USD 84.31 million (up 8.3%), non-resident tax USD 47.67 million (up 40%), banking sector tax USD 31.78 million (up 208%), individual tax USD 13.88 million (up 11.8%). IMF Article IV Mission (June 4-14) noted tourism's crucial role and improved resilience. IMF projects 1% growth in 2026, recovering to 4% in 2027. IMF warned of downside risks, high debt, and widening current account deficit, recommending fiscal reforms and structural changes.

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