Inflation ( CCPI)1.5% (April 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate8.76%
12M T-Bill Rate9.29%
2Y T-Bond Rate10.00%/ 10.05%
4Y T-Bond Rate10.70% / 10.80%
USD/LKR299/300
Reserves $5.438Bn (April 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 2,320 Bn (Dec 2023)

Government hints restructuring debt related to construction Industry

Bank & FinanceNov 17, 2022
Government hints restructuring debt related to construction Industry

The construction industry accounted for about 10% of the GDP of Sri Lanka while generating employment for 650,000 direct and 325,000 indirect. Banks’ exposure to the non-personal construction sector is about 9%. It is learned that the government is finding it difficult to settle LKR 200Bn to the sector due to its deteriorating financial status.

Bank’s total exposure to the construction industry including personal loans and advancers stands at 21.6% by end of 2021.

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