The government repaid Rs. 129 billion more than it borrowed through Treasury Bonds and Bills, in the first six months of 2024, Finance State Minister Shehan Semasinghe said.
During this period, the government borrowed a total of Rs.4,852 billion through these instruments but repaid Rs.4,981 billion by rolling over the same instruments.
“Therefore, it’s important to highlight the net borrowing rather than the gross borrowing. 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, the government now manages the budget deficit independently,” he added.
The post Govt repaid Rs. 129 Bn more than it borrowed from TBs – Shehan appeared first on DailyNews.