Green Fund observes 57.2% drop in April amid border closure

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The Green Fund Report, a monthly publication from Ministry of Finance confirm total Green Tax collection stood at MVR35.8 million as of April 2020.

As per data from the ministry, this amount is a significant drop from the corresponding period of 2019.

Moreover, the decline comes as a direct result of border closure by Maldives government effective from 27 March onward.

Meanwhile the Green Tax total stood at MVR83.6 million in April 2019.

Thus, the Green Tax collection for review period marks a 57.2% drop.

Earlier, Maldives government made the announcement of closing the country’s borders in light of the Covid-19 pandemic hitting its shores.

Subsequently, on 27 March travel restrictions became effective with cancellation to on-arrival tourist visas.

Meanwhile, the state decision pushed several hospitality outlets to temporarily shutdown their operations resulting in tourism sector coming to stagnation.

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