Net credit to government from banking system increased by Rs. 212.5 billion in Dec 2021 – The Island

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During the period January to November 2021, government revenue increased to Rs. 1,322.0 billion from Rs. 1,259.1 billion recorded during the corresponding period of 2020, and during the same period, the overall fiscal deficit increased to Rs. 1,709.3 billion from Rs. 1,576.4, according to the Central Bank of Sri Lanka’s weekly economic indicators released on Friday.

“Net credit to government from the banking system increased by Rs. 212.5 billion in December 2021,” he said.

The report further said:

As of February 18, 2022, the All Share Price Index (ASPI) decreased by 2.61% to 12,134.04 points and the S&P SL 20 Index decreased by 1.87% to 4,140.65 points, per compared to last week’s index values.

In the year to February 18, 2022, the Sri Lankan rupee depreciated by 0.8% against the US dollar.

Taking into account fluctuations in exchange rates between currencies, the Sri Lankan rupee depreciated by 1.6% against the pound sterling, the

the euro by 1.3% and the Japanese yen by 0.7% while appreciating against the Indian rupee by 0.01% during this period.

The reserve currency declined from the previous week mainly due to lower deposits held by commercial banks with the Central Bank.

The Purchasing Managers Indices for manufacturing and services activities also increased in January 2022, also registering index values ​​of 58.7 and 57.5 respectively.

The total outstanding market liquidity was a deficit of Rs. 693.539 billion by the end of this week, compared to a deficit of Rs. 617.991 billion at the end of last week.

During the period January to November 2021, total expenditure and net lending increased to Rs. 3,033.4 billion from Rs. 2,838.5 billion recorded in the corresponding period of 2020.

During the period January to November 2021, domestic financing fell to Rs. 1,812.3 billion from Rs. 1,822.8 billion during the corresponding period of 2020.

Foreign funding recorded a net repayment of Rs. 103.1 billion during the period January to November 2021 compared to a net repayment of Rs. 246.2 billion recorded during the corresponding period of 2020.

The stock of central government debt increased to Rs. 17,413.7 billion by the end of November 2021 from Rs. 15,117.2 billion at the end of 2020.

Since the end of 2020, the total stock of domestic debt has increased by 20.4% to reach Rs. 10,914.9 billion, and the rupee value of the total stock of external debt has increased by 7.4% to reach Rs. 6,498.8 billion at the end of November 2021.

During the period under review (from 12.02.2022 to 18.02.2022), crude oil prices showed a mixed performance. Early in the week, prices rose significantly as markets feared that geopolitical tensions between Russia and Ukraine could worsen the already tight crude oil supply situation. However, prices fell towards the end of the week on the prospect of progress on the Iran nuclear deal unlocking more crude supplies. Overall, Brent and WTI prices declined by US$3.22 per barrel and US$3.34 per barrel respectively during the period.

The weekly AWPR for the week ending February 18, 2022 increased by 23 basis points to 9.09% from the previous week.

Broad money (M2b) increased by 13.2%, on an annual basis, in December 2021.

Outstanding credit to public corporations increased by Rs. 3.4 billion in December 2021.

Outstanding credit extended to the private sector increased by Rs. 61.3 billion in December 2021.

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