Sri Lanka government has exceeded its legal borrowing limits for the first quarter of 2020 by Rs 120 billion, Verite Research said in a statement.
The Vote on Account, passed in October last year, allows the government only to borrow up to Rs 720 billion during this period.
But, Verite Research said that the government has borrowed up to Rs. 841 billion between January and April this year.
Verité Research Economist, Nishan De Mel 👇
Of the many reasons for the President to consider reconvening parliament, this is perhaps the most urgent
➜#SriLanka has exceeded its legal borrowing limit
âžœResponsible entities will want their lending to be legal
âžœ#lka constitution allows only Parliament to change the limit. https://t.co/VXNuGYM0Nz— Nishan de Mel (@NCdeMel) May 7, 2020