Government Reduces Debt Burden: Rs 129 Billion Paid Off in 2024

News Today: State Finance Ministry’s Debt Repayment Strategy Yields Results

State Finance Minister Shehan Semasinghe announced that the Government has paid off Rs. 129 billion in debt during the first half of 2024. During this period, the government accumulated a total debt of Rs. 4,852 billion through bonds and Treasury bills. However, the government managed to repay Rs. 4,981 billion of debt during the same period.

Semasinghe emphasized that while people often focus on loan acquisition statistics, it’s crucial to recognize the government’s efforts in effectively reducing its debt burden. The repayment of Rs. 129 billion in debt highlights the government’s commitment to financial stability and debt management.

The State Finance Ministry’s strategic approach to debt repayment showcases its dedication to maintaining economic stability and reducing the overall debt load. This proactive stance is vital for ensuring long-term economic health and sustainability.

Citizens are encouraged to stay informed about the government’s financial strategies and progress in debt management. The State Finance Ministry continues to work towards achieving a balanced budget and reducing the national debt.