Sri Lanka to be Saddled with High Interest Bill in 2024

Abstract

The Appropriation Bill for Budget 2024 indicates an increase in allocated expenditure from LKR 5854 bn in 2023 to LKR 6563 bn in 2024. Interest payments saw a 20 percent rise, from LKR 2189 bn in 2023 to LKR 2634 bn. In comparison with actual figures in 2022, expected interest payments for 2024 is set to increase by 68 percent. Recurrent expenditure is to increase from LKR 2445 bn to LKR 2720 bn, from 2023 to 2024, while capital expenditure is to fall marginally by 1 percent, from LKR 1220 bn to LKR 1209 bn.