This year, MVR 2.2 billion has been deposited in the Sovereign Development Fund (SDF). 

Finance Ministry data shows that deposits exceed this year's budgeted MVR 2.1 billion for the SDF. 

The budget states that MVR 4.1 billion from the SDF is to be used for debt repayment next year. 

As per the proposed budget for next year, while MVR 12.9 billion is to be spent on debt repayment, MVR 5.5 billion is included as interest expenditure. MVR 18.4 billion in total will be spent on debt repayment, which is 29 percent of the total budget. 

The majority funding for debt repayment will be sourced through refinancing. As such, MVR 2.9 billion is to be sought through loans. MVR 6.9 billion is be sourced through sukuk and bonds, while MVR 7 billion is to be sought for multilateral budget support. MVR 5.1 billion is to be sought from domestic financial institutes. 

While the SDF hold MVR 10.9 billion in total, MVR 8.3 billion from this is invested in domestic security or government T-bills. This amounts to 76 percent of the total fund. The remaining MVR 2.4 billion is currently available for use. 

Of the amount deposited in the SDF, MVR 6.5 billion is through Airport Development Fee. 

The proposed budget projects deposits of MVR 2.5 billion in the SDF next year.