26 March 2019
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Government acquired 68 billion loans for the 100 days

sl logoDuring the first quarter of this year the government has acquired a sum of Rs. 68 billion in loans.

According to the hierarchy of the Central Bank this is a significant increase of percentage when comparing to the first quarter of the last year.

Out of the 68 billion total loan acquired for the first quarter 31.1 sbillion has been taken through treasury bonds, 8.3 billion has been taken from treasury bills, 11.3 billion loan has been taken from development bonds and 0.9 billion was acquired from the Central Bank advance deposits.

Meantime it is being reported during the first quarter another 15.8 billion has been taken from foreign banks and financial institutions.

Due to the former governments irregular financial policies the current overnment has to acquire large amount of loans. However financial analysts say even the current government too is mismanaging the financial policies. For example although a sudden price reduction of the petrol prices due to the irregular tax policies the Ceylon Petroleum is incurring heavy losses.

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