MVR 1.3 billion has been deposited into the Sovereign Development Fund.

According to the Fiscal Development Report published by the Ministry of Finance, as of August 28, MVR 1.3 billion has been deposited into the Sovereign Development Fund. However, during the same period last year, only MVR 916.3 million was deposited into the fund.

Money is deposited into the Sovereign Development Fund from the Airport Development Fee and the additional revenue generated from changes in the prices of services provided by Velana International Airport (VIA).

President Dr. Mohamed Muizzu stated in May that USD 121 million had been deposited into the Sovereign Development Fund (SDF).

The Sovereign Fund is a fund established to prepare in advance for repaying state debt.