Friday, 17 May 2024
Sri Lanka’s debt burden increases

Sri Lanka’s debt burden increases Featured

Every Sri Lankan owes Rs. 425,000 to the outside world, latest statistics by the Central Bank shows.

The total debt that stood at Rs 0.654 billion in 1950 has risen to Rs. 8,503 billion now, the banks says.

Last year alone, a Rs. 829 billion budget deficit was recorded, of which Rs. 509 went to pay loan interests.

The debt repayment for the year was Rs. 808 billion.

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