With the influx of capital inflows from key projects such as Hambantota Port and Colombo Port city, in the next few years the debt to GDP rate will slowly start to decline.“In 2018, our debt to GDP was 83% while we expect it to rise to 85% in 2019,” said Head of Research, First Capital Holdings PLC, Dimantha Mathew at the launch of the Mid Year Outlook 2019 by the First Capital Research on Wednesday. The total debt repayment for 2020 is at Rs. 2.4 trillion with rollovers from the rest of the year 2019. After 2015, the total debt of the country increased by about 34% to the existing debt. About 70% of debt was used to pay the interest of the existing debt this year and thus it is important that the country should bring its nominal growth at least 10% or above to bring debt to GDP under control.
