Domestic financing up 2.2% of estimated GDP | Daily News


 

Domestic financing up 2.2% of estimated GDP

Domestic financing increased to 2.2 per cent of estimated GDP compared to 1.5 per cent in the corresponding period in 2018, while foreign financing as a percentage of estimated GDP remained unchanged at 0.6 per cent as recorded in the corresponding period of 2018.

In nominal terms, outstanding central government debt increased to Rs. 12,161.2 billionn by end May 2019 from Rs. 11,977.5 billion at end 2018. Accordingly, total outstanding domestic debt increased by 4.5 per cent to Rs. 6,291.5 billion, and the rupee value of total outstanding foreign debt declined by 1.5 per cent to Rs. 5,869.7 billion by end May 2019.

During the year up to August 2, 2019 the Sri Lanka rupee appreciated against the US dollar (3.6 per cent). Given the cross currency exchange rate movements, the Sri Lanka rupee appreciated against the pound sterling (8.5 per cent), Japanese yen (0.5 per cent), the euro (6.9 per cent) and the Indian rupee (2.2 per cent) during this period.

The gross official reserves were estimated at US dollars 8,865.0 million as at June 28, 2019. The year-on-year CCPI headline inflation declined to 3.3 per cent in July 2019 from 3.8 per cent in June 2019. Meanwhile, the month on month change of the CCPI declined by 0.2 per cent in July 2019. Weekly AWPR for the week ending August 2, 2019 increased by 5 bps to 10.89 per cent compared to the previous week. The reserve money increased compared to the previous week mainly due to the increase in currency in circulation and deposits held by the commercial banks.

 


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