The amount deposited to the Sovereign Development Fund (SDF) thus far this year has increased compared to the same period last year.
According to the Finance Ministry, MVR 319.7 million has been deposited in the fund as of the 18th of this month. This is an increase of 4.2 percent over the MVR 306.6 million deposited in the fund during the same 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.
