(MENAFN- Colombo Gazette) Sri Lanka repaid 129 billion rupees during the first 6 months in 2024, State Minister of Finance Shehan Semasinghe said.

He said this was more than what Sri Lanka borrowed through treasury bonds and bills.

“During this period, the government borrowed a total of 4,852 billion rupees through these instruments but repaid 4,981 billion rupees by rolling over the same instruments. Therefore, it's important to highlight the net borrowing rather than the gross borrowing,” the State Minister said on X.

He said that before emerging from the economic crisis, the Government relied on Central Bank financing, which led to an inflation rate as high as 70%.

However, with the implementation of a new Central Bank Act, Semasinghe says the government now manages the budget deficit independently. (Colombo Gazette)

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