Minister of Finance and Treasury Ahmed Munawar has stated that revenue from Airport Surcharge and Development Fee is saved by the Government to invest in various projects. Noting that Airport Development Fund has over USD 25.1 million, Minister Munawar said that these funds will be used to pay debts.
The Maldivian Finance Minister noted that the Government aims to increase the Airport Development Fund to over USD 500 million within three years which will result in the establishment of an additional dollar fund along with the foreign exchange reserve. Airport Development Fund is aimed at developing the economy of the country, he highlighted assuring that the allocated amount will be deposited to the fund this year even though fees were not deposited.
The Airport Development Charge is an additional charge collected from travellers departing from Velana International Airport (VIA) from May 1, 2017 onwards.