Sri Lanka gross borrowings at Rs684bn by April

COLOMBO (EconomyNext) – Sri Lanka’s gross borrowings were 684.2 billion rupees up to April 30, out of a total borrowing limit of 1,780 billion rupees approved for the year, according to data submitted to the cabinet by the finance ministry.

These included 311.706 billion rupees of Treasury bonds, 83.605 billion rupees of Treasury bills, 113.589 billion rupees of dollar denominated Sri Lanka Development Bonds, 9.06 billion rupees of central bank advances (outright printed money) and 8,238 billion rupees of bank overdrafts.

The domestic borrowings totalled 526.204 billion rupees.

There were also 158,049 billion rupees of foreign borrowings taking the total borrowings up to 684,253 billion rupees.

The gross borrowing limit of 1,780 billion rupees is not the budget deficit represented by new borrowings, but it also includes debt rollovers and repayments.

Sri Lanka’s projected budget deficit for 2015 is 499 billion rupees.


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