Maldives SDF Rises to MVR 7.4 Billion, Projected to Hit MVR 9.7 Billion by 2024

The Maldives' Sovereign Development Fund (SDF) reached MVR 7.4 billion at the end of September 2023, including US$124.7 million. The Ministry of Finance projects it will hit MVR 9.7 billion by end of 2024, driven by airport development fees and cross-subsidy proceeds. The fund has received MVR 4 billion from airport fees, MVR 1.4 billion from cross-subsidies, and MVR 2 billion from other sources. Starting 2025, MVR 3.8 billion will be withdrawn for budget financing over two years. The SDF was established in 2017 to cushion unforeseen debts. A recent amendment to the State Finance Act gives the President authority over SDF, advised by the Finance Minister, shifting management from the Maldives Monetary Authority to the Ministry of Finance.

The Maldives' Sovereign Development Fund (SDF) reached MVR 7.4 billion at the end of September 2023, including US$124.7 million. The Ministry of Finance projects it will hit MVR 9.7 billion by end of 2024, driven by airport development fees and cross-subsidy proceeds. The fund has received MVR 4 billion from airport fees, MVR 1.4 billion from cross-subsidies, and MVR 2 billion from other sources. Starting 2025, MVR 3.8 billion will be withdrawn for budget financing over two years. The SDF was established in 2017 to cushion unforeseen debts. A recent amendment to the State Finance Act gives the President authority over SDF, advised by the Finance Minister, shifting management from the Maldives Monetary Authority to the Ministry of Finance.

The Maldives' Sovereign Development Fund (SDF) reached MVR 7.4 billion at the end of September 2023, including US$124.7 million. The Ministry of Finance projects it will hit MVR 9.7 billion by end of 2024, driven by airport development fees and cross-subsidy proceeds. The fund has received MVR 4 billion from airport fees, MVR 1.4 billion from cross-subsidies, and MVR 2 billion from other sources. Starting 2025, MVR 3.8 billion will be withdrawn for budget financing over two years. The SDF was established in 2017 to cushion unforeseen debts. A recent amendment to the State Finance Act gives the President authority over SDF, advised by the Finance Minister, shifting management from the Maldives Monetary Authority to the Ministry of Finance.

This story involves 1 source and may affect public understanding of economy / finance.