The current government has accumulated a staggering Rs. 5,156 billion in debt within just five months of coming to power, according to the leader of the Pivithuru Hela Urumaya (PHU) Udaya Gammanpila.
Speaking at a media briefing held today at the party’s headquarters, Gammanpila stressed that it is the government’s responsibility to disclose how these funds have been utilized.
“The economic crisis in our country was primarily caused by the inability to repay previous loans. This is a well-known fact. Therefore, when the government presents the national budget, we expect the President to reveal to the nation how much debt has been taken on by the new government. Unfortunately, this has not been disclosed yet,” he said.
Gammanpila pointed out that while the current government has been unable to execute NPP’s election pledges, it has certainly excelled in accumulating debt.
“As of March 5, 2025, the government has borrowed an amount totaling Rs. 5,156 billion. In comparison, the government’s total revenue for the year 2024 stood at Rs. 4 billion. In just five months, the government has borrowed more than its annual revenue,” he claimed.
Gammanpila also revealed that a significant portion of this debt, Rs. 3,775 billion, has been raised through the issuance of treasury bills.
“Additionally, Rs. 1,063 billion were obtained through the issuance of treasury bonds. Moreover, the government has borrowed USD 1,084 million, approximately Rs. 318 billion, from international financial institutions, including the World Bank, the Asian Development Bank, and the International Monetary Fund,” he added.
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