More than MVR 425 million has been deposited to the Sovereign Development Fund (SDF) so far this year, reflecting an increase compared to the same period last year, according to the Ministry of Finance and Planning.

The ministry’s Weekly Fiscal Development Report shows that MVR 425.1 million was deposited to the fund between January 1 and March 19, marking an 8.6 per cent rise from MVR 391.6 million recorded during the corresponding period in 2025, while total expenditure on debt repayments has reached MVR 809.6 million during the same timeframe.

The SDF, established to support debt servicing and mitigate the impact of economic shocks, operates separately from the Maldives Monetary Authority’s foreign reserves and serves as a key fiscal buffer for the Government.

Established in 2016, the fund is financed through multiple revenue streams, including airport development fees, dividends from Maldives Airports Company Limited (MACL), which operates Velana International Airport, and service-related airport charges.

The Government has reiterated its intention to strengthen the fund in efforts to manage public debt, with President Dr Mohamed Muizzu previously stating that the SDF will play a key role in reducing reliance on additional borrowing for debt repayment.