Govt to publicise detailed debt service fund stats
SDF data is now clubbed together with weekly and monthly fiscal reports, with only deposits in the SDF now released.
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Finance ministry has decided to release detailed statements of the Sovereign Development Fund (SDF) in the form of a separate report.
Saruvas Adam, chief financial budget executive of the finance ministry, told Atoll Times on Sunday that from this month onwards, figures of the debt service fund will be made public separately. The first report will be released this month, he added.
"We are in the process of making the January report of the Sovereign Fund public this month," Saruvas said.
SDF data is now clubbed together with weekly and monthly fiscal reports, with only deposits in the SDF now released.
According to data released by the finance ministry on Thursday, the SDF has seen deposits of MVR 128.5 million in January and February.
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In February 2022, MVR 79.5 million was deposited
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MVR 49 million more than last year was deposited last month; an increase of 61%
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Budget estimates total deposits of MVR 871.4 million this year
At the end of last year, the SDF had only some MVR 2 billion as usable funds. With the amount invested, the total of the fund has crossed the MVR 5 billion mark at the end of last year.
Prior to Covid, the SDF was maintained in dollars, but from December 30, 2021 the fund had been maintained in local currency.
