Sri Lanka confident of not defaulting on its debt, says FM Basil Rajapaksa
The Hindu
‘By 2024, we are confident we will be able increase reserves and put debt on a sustainable footing,’ he says.
Sri Lanka is confident of not defaulting onand will work on gradually improving the quality of its foreign exchange reserves,said on Saturday, November 13, 2021, a day after presenting the 2022 annual budget.
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The government will reduce its budget deficit to around 8.8%of gross domestic product in 2022, the Finance Minister had said in his speech on Friday. The deficit target for 2021 was revised to 11.1%.
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