Sri Lanka’s total debt stock topped Rs. 26 trillion by end of May 2023

By the end of May 2023, total outstanding domestic debt amounted to Rs. 15,671.3 bn while the rupee value of total outstanding foreign debt amounted to Rs. 10,408.8 bn, according to the Weekly Economic Indicators report of the Central Bank.

However, outstanding central government debt decreased to Rs. 26,080.1 bn by the end May of 2023 from Rs. 27,492.0 bn as at end 2022, it stated.

“Broad money (M2b) expanded by 5.9 per cent, on a year-on-year basis, in August 2023. Meanwhile, Net Credit to the government from the banking system decreased by Rs. 84.1 bn in August 2023. Further, outstanding credit to public corporations decreased by Rs. 6.3 bn in August 2023, while outstanding credit extended to the private sector increased by Rs. 5.6 bn in August 2023, The report stated that reserve money increased compared to the previous week mainly due to the increase in the deposits held by the commercial banks with the Central Bank. The total outstanding market liquidity was a deficit of Rs. 24.598 bn by 06th October 2023, compared to a deficit of Rs. 73.506 bn by the end of the week.”

During the period from January-June 2023, net domestic financing increased to Rs. 1,218.6 bn compared to Rs. 947.1 bn in the corresponding period of 2022. Net foreign financing amounted to Rs. 24.0 bn during the first half of 2023, compared to the net repayment of Rs. 44.4 bn recorded in the corresponding period of 2022,” the report stated.