Sri Lanka's Debt burden up by Rs. 1.4 Trillion

COLOMBO (News 1st); According to the Central Bank, Sri Lanka’s total outstanding government debt increased by Rs. 1.4 Trillion during the first half of this year. Total government debt which stood at Rs.15.1 Trillion as at end December 2020, increased to Rs.16.5 Trillion by the end of June this year. Domestic debt rose by Rs. 866 Billion to Rs. 9.9 Trillion while foreign debt rose by Rs. 580.6 Billion to Rs. 6.6 trillion. According to CBSL, government expenditure during the first half of 2021 reached Rs.1.5 Trillion, as opposed to total revenue of Rs.714.5 Billion. 97 percent of the fiscal deficit was financed through domestic sources, including money printing. Since the beginning of this year, the government has printed more than 482 billion Rupees.