The per capita debt burden of the country has exceeded the gross domestic product due to the total loans taken by the central government.
In the last year 2021, the per capita gross domestic product was Rs. 794,376 and in that year, the share of public debt per capita was Rs. 795,223. In that year, the GDP per capita was $ 3,997.
But in the year 2022, while the per capita gross domestic product greatly decreased to $ 3,474 dollars, as a result of the collapse of the rupee’s foreign exchange rate, the per capita gross domestic product was said to be Rs. 1,088,667, and the share of public debt per capita had increased to Rs. 1,239,443 in that year.
These facts are revealed in the data given in the 2022 annual report of the Central Bank of Sri Lanka. In 2021, per capita GDP and per capita government debt were almost equal. However, in the year 2022, the share of debt had increased greatly, exceeding the GDP per capita.
