Sri Lanka private credit fall to three year low in April

Monday, 17 June 2013 - 12:13


Sri Lanka's credit to private business fell to a three year low of 7.6 billion rupees in April 2013 the lowest since May 2010, with state borrowings continuing to crowd out other loans.


In the same month, central government borrowing from domestic banks rose 76.8 billion rupees to 851.2 billion rupees, with borrowings in the past 12 months growing 54.6 percent accelerating from 41.9 percent in March.


State enterprises borrowed another 9.1 billion rupees in April, with total borrowings up 34 percent in the 12-months to 344.6 billion rupees.


The increase was lower than in March.

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