The Central Bank reports indicate that the country’s per capita debt has risen to Rs. 13,03,826 as of September 2024, according to Professor Wasantha Athukorala, Director of the Department of Humanities and Statistics at the University of Peradeniya.
In 2020, Sri Lanka’s per capita debt stood at Rs. 6,89,687. However, by September 2024, this figure has nearly doubled, reaching Rs. 13,03,826.
Breaking this down further, the per capita domestic debt as of September 2024 is Rs. 8,02,840, while the per capita foreign debt stands at Rs. 5,00,986.
Compared to 2020, the per capita domestic debt has surged by approximately 94%, foreign debt per capita has risen by 81%, and the country’s overall debt burden has increased by 89%.
Professor Athukorala warned that without effective measures to manage the national debt, the country may face yet another debt repayment crisis in the future.
Furthermore, it has been revealed that the total government debt owed by an average family of four now exceeds Rs. 5.2 million.
Premalal Wijeratne
