Nov 21, 2017

2015-to date state debt rose 39 pc Featured

The state’s debt burden rose by Rs. 2,896 billion, or 39 per cent, since the present government took over in 2015, Central Bank statistics reveal.

That excludes the borrowings for Hambantota port etc.

By that year, the total debt stood at Rs. 7,390 b, but it has now risen to Rs. 10,286 b.

Sixty one pc of the debt that remains to be paid back was borrowed during the period from J.R. Jayewardena to Mahinda Rajapaksa.

The budget 2018 proposes to allocate Rs. 1,970 to repay the loans and the interest attached.