SDF receives MVR 87 mln deposit

A total of MVR 87 million has been deposited into the Sovereign Development Fund (SDF) thus far this year.

According to the Weekly Fiscal Development Report released by the Finance Ministry, MVR 87 million has been deposited in the SDF as of February 1. This figure marks a slight decrease from the MVR 89.6 million deposited during the corresponding period last year.

The SDF was created in 2017 to provide the government with the ability to repay loans in case of emergency. The fund would assist in paying back loans borrowed for large development projects during economic downturns. The anticipated target for the fund's accumulation this year is MVR 1 billion.