Government needs to find resources for projects
Obtaining cheaper international borrowings will be a tough option
that the government need to look in to, said Secretary to the Ministry
of Finance Dr. R.H.S. Samarathunga. This is not a new option we are
considering, said Dr. Samarathunga, adding that the Government need to
find sources to finance projects and programs of the country.
The Government still have space to raise the capital through loans as
the country has not exceeded it's borrowing limit, Finance Minister Ravi
Karunanayake told the media late last week.
"The country borrowing limit is at 850 billion rupees and we still
have room to raise another 35 to 50 billion rupees through treasury
bills," added Karunanayake.
The outstanding debt of the country by end 2014 was Rs. 7,373
This reflected a per capita debt of Rs. 357,233. The government
predicted that the total debt will increase to Rs. 8,817 billion which
will also increase the per capita debt to about Rs. 427,220, as stated
by the Finance Minister in the Budget amendment (interim budget) of the
new government presented to the Parliament on January 29.