Sri Lanka’s public debt, which was 70 percent in 2014, has increased to 85 percent by 2019, Prime Minister Mahinda Rajapaksa said.
The Prime Minister, acting as the Minister of Finance, mentioned this presenting the second reading of the Appropriation Bill for the year 2020 at the parliament today (12).
He pointed out that the relevant Appropriation Act includes 4 Votes on Accounts.
According to the Appropriation Act 2020, the budget deficit is 7.9 percent of Gross Domestic Product (GDP).
The Premier pointed out that Sri Lanka’s budget deficit for the year 2019 was 9.6 percent of GDP, increasing from 5.7 percent in 2014.
In his speech, PM Rajapaksa informed the House that Sri Lanka has now settled all debt obligations including the foreign currency debt dues for the year 2020.
(Courtesy: Ada Derana)