Based on the Central Bank data, Verité Research yesterday pointed out that Sri Lanka’s interest payments had reached their highest levels in 2022.
This increase in interest payments suggests a significant debt burden on the government. The ratio of interest payments to total government revenue has surged from 35 percent in 2015 to a striking 78 percent in 2022.
Notably, there was a substantial rise in interest payments between 2019 and 2020, with payments escalating from 47 percent to 71 percent, mainly due to a substantial fall in government revenue, as a result of the tax cuts in late 2019 and early 2020.
This increase in interest payments suggests a significant debt burden on the government.
( Information from dailymirror.lk was used in this report. ALL RESPECT GOES TO ORIGINAL WRITER OF THIS ARTICLE. | Also if you have any problem of this article or if you need to remove this articles, please email here and we will delete this immediately. [email protected] )