Sunday
23rd Aug 2026
Dhivehi Edition
Photo: TMJ
The government has deposited MVR 1.3 billion into the Sovereign Development Fund (SDF) so far this year, the Ministry of Finance and Public Enterprises has announced.
According to the ministry's latest Weekly Fiscal Development Report, the amount was deposited into the fund between January 1 and August 13.
During the same period, government expenditure on debt repayments also increased significantly. The state spent MVR 9.7 billion on repaying loans so far this year, compared with MVR 3.9 billion during the corresponding period last year.
The government also used the SDF to repay a USD 500 million debt this year.
The Sovereign Development Fund was established in 2016 to help the government respond to financial pressures arising from unexpected circumstances, repay major loans taken for development projects and cushion the economy against losses caused by economic shocks.
The fund is maintained separately from the reserves of the Maldives Monetary Authority (MMA).
The SDF receives funds primarily from three sources: the Airport Development Fee paid by departing passengers at Velana International Airport, dividends from the Maldives Airports Company Limited (MACL), which operates the airport, and additional revenue generated through increases in fees for certain airport services.