Rupee value of foreign debt amounted to over Rs. 11.6 trillion by end September 2022

Rupee value of foreign debt amounted to over Rs. 11.6 trillion by end September 2022

Ceylon Tenny Tea

Source : island

= Outstanding government debt increased to Rs. 24,945 bn

= Domestic debt stands at Rs. 13,345 bn

= Overall budget deficit declined to Rs. 1,244 bn

According to the Weekly Economic Indicators of the Central bank of Sri Lanka, outstanding central government debt increased to Rs. 24,945.9 bn by end September 2022 from Rs. 17,589.4 bn as at end 2021. By end September 2022, total outstanding domestic debt amounted to Rs. 13,345.6 bn while the rupee value of total outstanding foreign debt amounted to Rs. 11,600.3 bn.

The report stated that during the nine months ending September 2022, overall budget deficit declined to Rs. 1,244.4 bn compared to Rs. 1,328.2 bn recorded in the corresponding period of 2021.Several other stats given by the report are as follows.

During the nine months ending September 2022, domestic financing decreased to Rs. 1,303.5 bn compared to Rs. 1,453.0 bn in the corresponding period of 2021. Foreign financing recorded a net repayment of Rs. 59.1 bn during the period from January to September 2022, compared to the net repayment of Rs. 124.7 bn recorded in the corresponding period of 2021.

During the year up to 23rd December 2022, the Sri Lankan rupee depreciated against the US dollar by 44.8 percent. Given the cross currency exchange rate movements, the Sri Lankan rupee depreciated against the Euro by 41.1 per cent, the pound sterling by 38.2 per cent, the Indian rupee by 38.5 per cent and the Japanese yen by 36.4 per cent during this period.

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased for the second consecutive month recording 65.0 per cent in November 2022. Similarly, food inflation decreased to 69.8 per cent, while non-food inflation decreased to 60.4 percent. Furthermore, the NCPI measured on an annual average basis, increased to 46.7 per cent in November 2022 from 42.2 per cent in October 2022.Weekly AWPR for the week ending 23rd December 2022 increased by 37 bps to 28.68 per cent compared to the previous week.

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