The tax authority collected US$136 million in July.
The ministry has taken no steps to recover this money, the audit report said.
Almost 30 sculptures are part of a stunning semi-submerged art installation in the Maldives.
Support for the president's economic policy came during a much-publicised panel discussion on state TV.
Five islands will be destroyed as part of the airport project.
The report shows MVR11 billion was spent while MVR10.6 billion was earned by the state.
The resort workers association questioned the workability of the proposed scheme.
The finance minister announced plans to publish monthly income and spending data.
Contracts worth US$56.2 million were signed with Sri Lanka-based Haycarb PLC.
The MPL has invited employees to apply for 432 apartments.
STO reported US$3 million as Q1 after-tax profit whilst MTCC's profit declined by 47 percent in Q2.
The president's office cited "significant public sentiment against the installation of underwater sculptures."
It is a crime for Maldivians to consume pork or alcohol and such products are banned from inhabited islands.
The development work overran by around 18 months.
There are more than 27,000 Maldivian resort workers.
Mo Salah has more than six million Twitter followers.
Sanctions were a last resort and action must be taken quickly, said a former Brussels official.