The Sovereign Development Fund (SDF) has received deposits of over MVR 519 million so far this 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.
According to the Finance Ministry, this is the total amount deposited in the fund as of the 20th of this month. This is a four percent increase over the MVR 499 million deposited in the fund during the same period last year.
The government has decided to use the sovereign fund in 2025 and 2026 to repay debts.
Finance Ministry building in Male’ City
