Sri Lanka: Selected Issues

International Monetary Fund

doi:10.5089/9781451823370.002.A006

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Sri Lanka: Selected Issues

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International Monetary Fund

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Publication Date:: 04 Nov 1997

eISBN:: 9781451823370

Language:: English

Keywords:: ISCR; CR; liberalization; export; import; welfare expenditure; social service expenditure; structure of output; loan operation; school enrolment rate; Total expenditures; Income distribution; Public expenditure review

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This Selected Issues paper on Sri Lanka provides background information on economic developments and on selected policy issues facing Sri Lanka. The main economic developments in 1996 and the first quarter of 1997 are discussed. The paper highlights that in 1996, a severe drought, power shortages, and an escalation in the military conflict contributed to a sharp deterioration in the economic situation. With the end of the drought and power shortages, and a rise in investor confidence, macroeconomic conditions in 1997 were more favorable.

Abstract

VI. Social Policies: Recent Developments and Future Priorities⁶⁹

A. Social and Demographic Indicator

215. Over the last two decades, Sri Lanka has made important strides in the social aspects of development. Indicators of health, nutrition, and life expectancy at birth are significantly better than in other South Asian and low-income countries. In addition, school enrolment rates are high and adult literacy is nearly 90 percent, substantially above other countries in South Asia. The population growth rate has been stable at 1.4 percent per year, the lowest in South Asia.

216. There has also been some improvement in income distribution in Sri Lanka since end-1980s. According to the World Bank’s 1996 Social Indicators of Development, the proportion of income accounted for by the top quintile has fallen somewhat from 43 percent 15–20 years ago to about 39 percent more recently, suggesting an increasing share of total income of the middle-income population (Table VI.2). Most recent estimates show that the bottom quintile of the population accounted for 9 percent of total income, a substantially higher proportion than in Southeast Asian economies.

Table VI.1.

Sri Lanka: Selected Socioeconomic Indicators, 1996

Source: World Bank, World Development Indicators; and Social Indicators of Development.

Table VI.1.

Sri Lanka: Selected Socioeconomic Indicators, 1996

Country	Per Capita GDP (PPP) US$	Population (Millions)	Life Expectancy	Literacy Rate (Percent)	Urban Population (Percent)
Sri Lanka	3,415	18.2	72	89.3	22
Bangladesh	1,410	124.0	56	38.1	21
Nepal	1,165	21.9	54	27.0	14
Pakistan	2,340	133.2	62	35.7	35
India	1,385	943.7	61	52.1	27

Source: World Bank, World Development Indicators; and Social Indicators of Development.

Table VI.1.

Sri Lanka: Selected Socioeconomic Indicators, 1996

Country	Per Capita GDP (PPP) US$	Population (Millions)	Life Expectancy	Literacy Rate (Percent)	Urban Population (Percent)
Sri Lanka	3,415	18.2	72	89.3	22
Bangladesh	1,410	124.0	56	38.1	21
Nepal	1,165	21.9	54	27.0	14
Pakistan	2,340	133.2	62	35.7	35
India	1,385	943.7	61	52.1	27

Source: World Bank, World Development Indicators; and Social Indicators of Development.

Table VI.2.

Sri Lanka: Social and Demographic Indicators

Sources: World Bank, Social Indicators of Development, 1996; and Food and Agriculture Organization (FAO), Production, 1994; and the United Nations, The Sex and Age Distribution of the World Populations, 1994.

^{^1/}Average comparator countries that have GNP per capita between $460 and $520. These countries

^{^2/}Difference of total population and population between 15–64 years of age.

^{^3/}Fifteen years old or older.

Table VI.2.

Sri Lanka: Social and Demographic Indicators

						Same region/income group
			Units	15–20 years ago		Most recent estimate		South Asia		Low-income		Next higher income group
General
	Area		000 km²	66		66		…		…		…
		Agricultural land	Percent of land area	36		36		59		52		41
	GNP per capita		U.S. Dollars	370		640		320		390		1,670
	Income distribution
		Highest quintile	Percent of income	43		39		…		…		…
		Lowest quintile	Percent of income	7		9		…		…		…
	Total road length		’000 km	25		95		…		…		…
Population characteristics
	Population		Millions	16		18		…		…		…
	Population density		per km²	672		753		402		150		66
		(on agricultural land)
	Rate of growth		Percent per annum	1.5		1.4		1.8		1.7		1.3
	Life expectancy at birth		Years	69		72		61		63		67
	Share of population under 15 years of age		Percent	35	^1/	32	^1/	45	^2/	45	^2/	20	^2/
	Urban population		Percent	21.1		22.2		26.0		28.3		55.9
Labor force
	Total labor force		Millions	6		7		…		…		…
	Females in labor force		Percent	30		35		32		39		40
	Labor force participation rate		Percent	39		42		43		50		45
Health and nutrition
	Population per physician		Persons	5.516		…		…		…		3.064
	Population per hospital bed		Persons	340		365		1,675		1,034		592
	Daily calorie supply		Kilocalories per person	2,341		2,205		2,243		…		…
	Daily protein supply		Grams per person	46		47		52		…		…
	Total fertility rate		Births per woman	3.3		2.4		3.6		3.3		2.7
	Infant mortality rate		Per thousand live births	30		16		73		58		36
Education
	Adult illiteracy		Percent of population ^3/	13		10		51		35		…
		Of which: Female	Percent of fem, population	19		13		64		46		…
	Primary school enrollment		Percent of school-age population	103		107		98		105		104

^{^1/}Average comparator countries that have GNP per capita between $460 and $520. These countries

^{^2/}Difference of total population and population between 15–64 years of age.

^{^3/}Fifteen years old or older.

Table VI.2.

Sri Lanka: Social and Demographic Indicators

						Same region/income group
			Units	15–20 years ago		Most recent estimate		South Asia		Low-income		Next higher income group
General
	Area		000 km²	66		66		…		…		…
		Agricultural land	Percent of land area	36		36		59		52		41
	GNP per capita		U.S. Dollars	370		640		320		390		1,670
	Income distribution
		Highest quintile	Percent of income	43		39		…		…		…
		Lowest quintile	Percent of income	7		9		…		…		…
	Total road length		’000 km	25		95		…		…		…
Population characteristics
	Population		Millions	16		18		…		…		…
	Population density		per km²	672		753		402		150		66
		(on agricultural land)
	Rate of growth		Percent per annum	1.5		1.4		1.8		1.7		1.3
	Life expectancy at birth		Years	69		72		61		63		67
	Share of population under 15 years of age		Percent	35	^1/	32	^1/	45	^2/	45	^2/	20	^2/
	Urban population		Percent	21.1		22.2		26.0		28.3		55.9
Labor force
	Total labor force		Millions	6		7		…		…		…
	Females in labor force		Percent	30		35		32		39		40
	Labor force participation rate		Percent	39		42		43		50		45
Health and nutrition
	Population per physician		Persons	5.516		…		…		…		3.064
	Population per hospital bed		Persons	340		365		1,675		1,034		592
	Daily calorie supply		Kilocalories per person	2,341		2,205		2,243		…		…
	Daily protein supply		Grams per person	46		47		52		…		…
	Total fertility rate		Births per woman	3.3		2.4		3.6		3.3		2.7
	Infant mortality rate		Per thousand live births	30		16		73		58		36
Education
	Adult illiteracy		Percent of population ^3/	13		10		51		35		…
		Of which: Female	Percent of fem, population	19		13		64		46		…
	Primary school enrollment		Percent of school-age population	103		107		98		105		104

^{^1/}Average comparator countries that have GNP per capita between $460 and $520. These countries

^{^2/}Difference of total population and population between 15–64 years of age.

^{^3/}Fifteen years old or older.

B. Government Expenditure on Social Services

217. Social service expenditure constitutes an important part of budgetary expenditure in Sri Lanka. During 1992–96, it accounted for about 32 percent of the total expenditure and 9 percent of GDP (Table VI.3). These proportions have remained quite stable over this period. Nearly half of social expenditures are on welfare programs, while education accounts for 31 percent, and health for 17 percent. About 85 percent of expenditure on social services is current expenditure.

Table VI.3.

Sri Lanka: Government Expenditure on Social Services, 1992–96

(In billions of Sri Lankan Rupees)

Source: Central Bank of Sri Lanka Annual Report 1996.

^{^1/}Provisional.

Table VI.3.

Sri Lanka: Government Expenditure on Social Services, 1992–96

(In billions of Sri Lankan Rupees)

			1992	1993	1994	1995	1996 ^1/	Average
Current expenditure			32.7	37.5	47.7	57.6	59.3	47.0
	Education		10.5	11.2	14.8	15.8	16.0	13.7
	Health		4.5	5.7	7.7	8.8	9.3	7.2
	Welfare		17.4	20.3	24.6	32.1	32.8	25.4
	Housing		0.0	0.0	0.0	0.0	0.0	0.0
	Community services		0.3	0.3	0.6	0.9	1.2	0.7
Capital expenditure and lending			6.1	6.1	7.7	9.9	11.2	8.2
	Education		2.0	2.8	2.9	3.1	4.4	3.1
	Health		2.0	1.4	1.5	2.1	2.8	2.0
	Welfare		1.2	1.1	1.7	1.7	1.1	1.3
	Housing		0.8	0.6	0.8	1.6	1.6	1.1
	Community services		0.1	0.2	0.8	1.3	1.4	0.8
Total expenditure on social services			38.8	43.6	55.3	67.5	70.5	55.1
	(As percent of total budgetary expenditure)		32.6	30.4	33.0	32.6	32.2	32.2
	(As percent of GDP)		9.1	8.7	9.6	10.1	9.2	9.3
		Education	2.9	2.8	3.1	2.8	2.7	2.9
		Health	1.5	1.4	1.6	1.6	1.6	1.5
		Welfare	4.4	4.3	4.5	5.1	4.4	4.5
Memorandum items:
	Current expenditure (percent of total expenditure on social services)		84.2	86.1	86.1	85.4	84.1	85.2
	(As percent of social services expenditure)
		Education	32.3	32.3	32.0	28.0	29.0	30.7
		Health	16.8	16.2	16.6	16.2	17.1	16.6
		Welfare	47.8	49.0	47.4	50.1	48.1	48.5

Source: Central Bank of Sri Lanka Annual Report 1996.

^{^1/}Provisional.

Table VI.3.

Sri Lanka: Government Expenditure on Social Services, 1992–96

(In billions of Sri Lankan Rupees)

			1992	1993	1994	1995	1996 ^1/	Average
Current expenditure			32.7	37.5	47.7	57.6	59.3	47.0
	Education		10.5	11.2	14.8	15.8	16.0	13.7
	Health		4.5	5.7	7.7	8.8	9.3	7.2
	Welfare		17.4	20.3	24.6	32.1	32.8	25.4
	Housing		0.0	0.0	0.0	0.0	0.0	0.0
	Community services		0.3	0.3	0.6	0.9	1.2	0.7
Capital expenditure and lending			6.1	6.1	7.7	9.9	11.2	8.2
	Education		2.0	2.8	2.9	3.1	4.4	3.1
	Health		2.0	1.4	1.5	2.1	2.8	2.0
	Welfare		1.2	1.1	1.7	1.7	1.1	1.3
	Housing		0.8	0.6	0.8	1.6	1.6	1.1
	Community services		0.1	0.2	0.8	1.3	1.4	0.8
Total expenditure on social services			38.8	43.6	55.3	67.5	70.5	55.1
	(As percent of total budgetary expenditure)		32.6	30.4	33.0	32.6	32.2	32.2
	(As percent of GDP)		9.1	8.7	9.6	10.1	9.2	9.3
		Education	2.9	2.8	3.1	2.8	2.7	2.9
		Health	1.5	1.4	1.6	1.6	1.6	1.5
		Welfare	4.4	4.3	4.5	5.1	4.4	4.5
Memorandum items:
	Current expenditure (percent of total expenditure on social services)		84.2	86.1	86.1	85.4	84.1	85.2
	(As percent of social services expenditure)
		Education	32.3	32.3	32.0	28.0	29.0	30.7
		Health	16.8	16.2	16.6	16.2	17.1	16.6
		Welfare	47.8	49.0	47.4	50.1	48.1	48.5

Source: Central Bank of Sri Lanka Annual Report 1996.

^{^1/}Provisional.

218. Turning to each subcategory, expenditure on social welfare programs rose steadily from 4.3 percent of GDP in 1993 to a peak of 5.1 percent in 1995. In line with the government’s effort to reduce the budget deficit, welfare expenditures were reduced to 4.4 percent of GDP in 1996. Expenditure on education was fairly stable at about 3 percent of GDP during 1992–96. Current spending amounted to over 80 percent of the total spending on education, as the emphasis has been on hiring and salary adjustments for teachers rather than the provision of inputs and maintenance. Expenditure on health has also been stable at about 1½ percent of GDP during 1992–96.

219. Although expenditure on housing and community services remained a small fraction of total expenditure on social services, there has been a notable increase in community services spending, both in current and capital categories, from 1.1 percent of total expenditure on social services to 3.6 percent. Expenditure on housing also rose from less than 1.5 percent of total spending on social services in 1993–94 to 2.3 percent in 1996.

C. Social Transfer Programs

220. Sri Lanka has been active in making social transfers to a large portion of the population, especially food subsidies, which have been ongoing for four decades. The high cost of these transfers, however, has placed an increasing burden on the country’s fiscal position. To help reduce fiscal costs, the welfare programs have over time shifted away from the provision of universal benefits to means-tested benefits. Social transfer programs, however, continue to be an important element in the government’s three-pronged approach to reduce poverty, which comprises sound macroeconomic management, welfare support programs, and rural development policy.

221. Prior to 1996, a number of separate programs were in place including cash transfers, food and kerosene stamps, and commodity subsidies. These programs accounted for about 16 percent of total government expenditure, equivalent to 5 percent GDP, in 1995 (Table VI.4). To help generate fiscal savings, several of these programs (e.g., food and kerosene stamps) were consolidated into a single social transfer program called Samurdhi (prosperity). In addition, the Janasaviya program (strength of the people), in place since 1989 and under which monthly cash grants were provided for a period of two years, was discontinued in 1996 and superseded by the Samurdhi program. Thus, following this consolidation, there are now two main types of social transfer programs in Sri Lanka, namely, the Samurdhi program of general transfers, and specifically targeted social transfers such as the provision of school uniforms and text books. In specific regions (especially in the north and east), programs such as food and kerosene stamps remain in place.

Table VI.4.

Sri Lanka: Social Transfer Programs, 1992–96

(In billions of Sri Lankan Rupees)

Source: Sri Lankan Authorities.

^{^1/}These data are generally somewhat higher than the data on welfare expenditure in Table VI.3 because of different classification and coverage.

Table VI.4.

Sri Lanka: Social Transfer Programs, 1992–96

(In billions of Sri Lankan Rupees)

	1992	1993	1994	1995	1996
Samurdhi	0.0	0.0	0.0	2.8	7.3
Food stamp	2.5	2.5	2.5	1.4	0.4
Kerosene stamp	0.5	0.5	0.6	0.4	0.1
Janasaviya	2.6	3.6	3.9	2.3	1.3
Mid-day meal	1.9	1.7	1.2	1.8	0.0
School uniform and text books	1.1	0.8	1.3	1.2	1.8
Triposha care and infant milk	0.1	0.3	0.3	0.2	0.2
Pension and welfare payment	8.4	10.8	13.4	15.3	16.8
Others including refugees	2.2	2.3	4.5	2.4	2.5
Wheat flour subsidy	0.0	0.0	0.0	5.0	5.5
Fertilizer subsidy	0.0	0.0	0.6	1.3	1.5
Total welfare expenditure	19.3	22.4	28.3	34.1	37.5
(Percent of GDP) ^1/	4.5	4.5	4.9	5.1	4.9
Excluding flour and fertilizer subsidies	19.3	22.4	27.6	27.8	30.5
(Percent of GDP)	4.5	4.5	4.8	4.2	4.0

Source: Sri Lankan Authorities.

^{^1/}These data are generally somewhat higher than the data on welfare expenditure in Table VI.3 because of different classification and coverage.

Table VI.4.

Sri Lanka: Social Transfer Programs, 1992–96

(In billions of Sri Lankan Rupees)

	1992	1993	1994	1995	1996
Samurdhi	0.0	0.0	0.0	2.8	7.3
Food stamp	2.5	2.5	2.5	1.4	0.4
Kerosene stamp	0.5	0.5	0.6	0.4	0.1
Janasaviya	2.6	3.6	3.9	2.3	1.3
Mid-day meal	1.9	1.7	1.2	1.8	0.0
School uniform and text books	1.1	0.8	1.3	1.2	1.8
Triposha care and infant milk	0.1	0.3	0.3	0.2	0.2
Pension and welfare payment	8.4	10.8	13.4	15.3	16.8
Others including refugees	2.2	2.3	4.5	2.4	2.5
Wheat flour subsidy	0.0	0.0	0.0	5.0	5.5
Fertilizer subsidy	0.0	0.0	0.6	1.3	1.5
Total welfare expenditure	19.3	22.4	28.3	34.1	37.5
(Percent of GDP) ^1/	4.5	4.5	4.9	5.1	4.9
Excluding flour and fertilizer subsidies	19.3	22.4	27.6	27.8	30.5
(Percent of GDP)	4.5	4.5	4.8	4.2	4.0

Source: Sri Lankan Authorities.

^{^1/}These data are generally somewhat higher than the data on welfare expenditure in Table VI.3 because of different classification and coverage.

222. The Samurdhi program is now the cornerstone of the government’s social welfare scheme. The major components are a direct cash transfer, ranging from Rs 100 for a single person household to Rs 1,000 per month for a household with five or more members, and the provision of loans for beneficiaries at the village level. A total of 1.5 million households were covered by the program by end-1996. Beneficiaries exit from the program when their income exceeds Rs 2,000 per month for a continuous period of six months or when at least one family member finds long-term employment. The implementation of the Samurdhi program is conducted at the village level by “mobilizers” who screen beneficiaries and mobilize them to participate in development lending programs. Task forces of mobilizers (mostly new high school graduates) operate through Samurdhi’s network of 12,500 units in 75 districts. Each mobilizer receives a monthly payment of Rs 2,000. There are approximately 36,000 mobilizers (implying 42 beneficiary households per mobilizer).

223. The two new loan programs, Suratura Diriya and Sasana, were also established in 1996 to provide development financing for Samurdhi participants to undertake commercially viable projects. The loan programs are administered by the two state banks. Loan size ranges from Rs 2,500 to Rs 10,000 with a pay back period between two months and two years. Funding for these loan programs amounts to about Rs 500 million, of which Rs 400 million came from the 1996 budget and the remaining from savings generated by Samurdhi. Twenty percent of the cash transfer to households are subject to compulsory savings with the two state banks at an interest rate of 12 percent per annum. Over time, it is expected that reliance on budgetary resources will be reduced and the loan operations will be largely self-financed through these saving accounts.

224. In view of the need for fiscal consolidation, all Samurdhi programs will continue to be implemented subject to budget rationing. In the medium term, Samurdhi will likely evolve into a more diversified set of social transfer programs. An example of this is the Samurdhi social security program, which collects Rs 20 from each family per month and provides a lump sum payment of Rs 4,000 upon the death of each family member.

225. The subsidies on wheat flour and fertilizers have re-emerged as an important element of social transfers in recent years. The subsidy for wheat flour and bread was reintroduced in July 1994 in the run-up to parliamentary elections; this subsidy cost the budget 0.7 percent of GDP in 1995 and 1996. The subsidy is poorly targeted—the FY 1990/91 household consumption survey suggests that one-third of the subsidy accrues to the wealthiest 20 percent of the population. Furthermore, the subsidy has induced a large shift in consumption away from rice, which has adversely affected domestic production. The fertilizer subsidy was also reintroduced in June 1994. The initial intention was to target the subsidy to low-income farmers by issuing coupons, but the scheme was ultimately implemented as a general price subsidy.

D. Future Priorities

226. There is substantial room for reducing the costs and inefficiencies of the social welfare programs without jeopardizing the government’s long-standing commitment of assisting the poor. The main areas where tangible improvements can be made include:

eliminating the wheat flour and fertilizer subsidies and adopting free market pricing mechanisms;
improving the Samurdhi program by containing the number of mobilizers, maintaining them on one-year employment contracts, freezing budgetary allocations, and introducing time limits for transfers to beneficiaries;
consolidating the three schemes for the Northeast (food stamps, kerosene stamps, and emergency assistance) into one single program until the Samurdhi can be introduced in the region. In addition, the school uniforms and textbooks schemes could also be integrated into the Samurdhi.

227. Public expenditure on education also needs to be rationalized. Such spending, particularly in recent years, has focused on hiring and salary adjustments for teachers rather than on expenditure for inputs and maintenance. As a result of inadequate investments, World Bank studies have concluded that the quality of education in Sri Lanka has declined. In addition, the problem has been compounded by low teacher productivity, the weakness of the training system and lack of standards, and the mismatch of demand and supply for teachers across regions resulting from poor staffing and transfer policy. In view of this, reform on education spending should, therefore, focus on shifting away from increasing budgetary outlays, especially in current expenditure items, to reallocating the available resources toward increasing the supply of inputs and maintenance. Moreover, reforms should also aim at correcting distortions of incentives which underlie the problems of staff mismatch across regions and low teacher productivity.

E. Income Distribution

228. The most recent available estimates show that income distribution, as measured by the Gini coefficient, has improved slightly over the last decade (see Table VI.5). This improvement has occurred despite the fall in the share of the agricultural sector in total income from 23 percent of GDP in 1990 to 18 percent in 1996, as the sector’s share of employment also fell from 48 percent of total employment to 39 percent (see Chart VI.1).⁷⁰ This development also took place during the period of falling unemployment, which implies that there is a pool of surplus labor readily available to accommodate the expansion of the nonagricultural sector.

Table VI.5.

Sri Lanka: Income Distribution in Selected Countries as Measured by Gini Coefficient

Source: Hamid Tabatabai, Statistics on Poverty and Income Distribution: An ILO Compendium of Data (Geneva: ILO, 1996)

Table VI.5.

Sri Lanka: Income Distribution in Selected Countries as Measured by Gini Coefficient

Recent			Mid-1980s		End-1980s		Most
Sri Lanka		0.45	1982	0.46	1987	0.42	1997
South Asian Countries
	Nepal	0.30	1984/85	…	…	…	…
	Pakistan	0.35	1984/85	0.31	1991	…	…
	India	0.32	1983	0.32	1989/90	0.34	1992
East Asian Countries
	Indonesia	0.34	1984	0.33	1990	0.32	1993
	Malaysia	0.49	1984	0.48	1990	…	…
	Philippines	0.42	1985	0.41	1988	…	…
	Thailand	0.50	1985/86	0.44	1988	0.46	1992
	Singapore	0.41	1982/83	0.42	1987/88	…	…

Source: Hamid Tabatabai, Statistics on Poverty and Income Distribution: An ILO Compendium of Data (Geneva: ILO, 1996)

Table VI.5.

Sri Lanka: Income Distribution in Selected Countries as Measured by Gini Coefficient

Recent			Mid-1980s		End-1980s		Most
Sri Lanka		0.45	1982	0.46	1987	0.42	1997
South Asian Countries
	Nepal	0.30	1984/85	…	…	…	…
	Pakistan	0.35	1984/85	0.31	1991	…	…
	India	0.32	1983	0.32	1989/90	0.34	1992
East Asian Countries
	Indonesia	0.34	1984	0.33	1990	0.32	1993
	Malaysia	0.49	1984	0.48	1990	…	…
	Philippines	0.42	1985	0.41	1988	…	…
	Thailand	0.50	1985/86	0.44	1988	0.46	1992
	Singapore	0.41	1982/83	0.42	1987/88	…	…

Source: Hamid Tabatabai, Statistics on Poverty and Income Distribution: An ILO Compendium of Data (Geneva: ILO, 1996)

Table VI.6.

Sri Lanka: Comparative Income Distribution Classified by Quintile

(In percent of total income)

Source: Hamid Tabatabai, Statistics on Poverty and Income Distribution: An ILO Compendium of Data (Geneva: ILO, 1996)

Table VI.6.

Sri Lanka: Comparative Income Distribution Classified by Quintile

(In percent of total income)

		Year	q1	q2	q3	q4	q5
Sri Lanka		1990	8.9	13.1	16.9	21.7	39.3
South Asian Countries
	India	1992	8.5	12.1	15.8	21.1	22.6
	Nepal	1984/85	9.1	12.9	16.7	21.8	39.5
	Pakistan	1991	8.4	12.9	16.9	22.2	39.7
East Asian Countries
	Indonesia	1993	8.7	12.3	16.3	22.1	40.7
	Malaysia	1988	4.6	8.3	13.0	20.4	53.7
	Philippines	1988	6.5	10.1	14.4	21.2	47.8
	Thailand	1992	5.6	8.7	13.0	20.0	52.7
	Singapore	1987/88	5.7	9.9	14.6	21.4	48.9

Source: Hamid Tabatabai, Statistics on Poverty and Income Distribution: An ILO Compendium of Data (Geneva: ILO, 1996)

Table VI.6.

Sri Lanka: Comparative Income Distribution Classified by Quintile

(In percent of total income)

		Year	q1	q2	q3	q4	q5
Sri Lanka		1990	8.9	13.1	16.9	21.7	39.3
South Asian Countries
	India	1992	8.5	12.1	15.8	21.1	22.6
	Nepal	1984/85	9.1	12.9	16.7	21.8	39.5
	Pakistan	1991	8.4	12.9	16.9	22.2	39.7
East Asian Countries
	Indonesia	1993	8.7	12.3	16.3	22.1	40.7
	Malaysia	1988	4.6	8.3	13.0	20.4	53.7
	Philippines	1988	6.5	10.1	14.4	21.2	47.8
	Thailand	1992	5.6	8.7	13.0	20.0	52.7
	Singapore	1987/88	5.7	9.9	14.6	21.4	48.9

Source: Hamid Tabatabai, Statistics on Poverty and Income Distribution: An ILO Compendium of Data (Geneva: ILO, 1996)

CHART VI.1

SRI LANKA: INCOME AND EMPLOYMENT IN AGRICULTURE, 1990–96

Citation: IMF Staff Country Reports 1997, 095; 10.5089/9781451823370.002.A006

Source: Data provided by the Sri Lanka authorities.

229. As Sri Lanka’s structure of output continues to diversify away from agriculture and toward manufacturing and services, the ability to maintain and improve the present level of income distribution will hinge importantly on progress in implementing reforms to raise the value added of agriculture, and also labor market reforms to provide the flexibility to meet the demands of the expanding industrial and service sectors.

230. In the case of agriculture, the priority will be to boost the role of competitive market forces and reduce government involvement in production, marketing, and distribution. The privatization of plantations over the last few years has been an important start to this process, and will now need to be supplemented by reform of agricultural commodity markets. Over the longer term, the problem of small structure of farms associated with poorly organized land markets will also need to be addressed.

231. On labor markets, amending labor legislations to give employers greater flexibility in retrenchment decisions would spur domestic firms to restructure in the face of changing conditions, as well as remove an important impediment to new investment in labor-intensive industries. Lax regulations with regard to job disruptions and inefficiencies in dispute settlement procedures, which have led to significant losses in economic activity and foregone earnings, also need to be addressed.

STATISTICAL APPENDIX

Table 1.

Sri Lanka: Gross Domestic Product and Expenditure Components, 1992–96 ^1/

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}At market prices.

^{^2/}Includes investment by public corporations not financed through the government budget.

^{^3/}Capital expenditure and net lending by the central government, excluding privatization proceeds.

Table 1.

Sri Lanka: Gross Domestic Product and Expenditure Components, 1992–96 ^1/

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at current prices)
Consumption		361,438	419,576	490,935	565,661	649,674
	Private	320,466	373,785	434,933	489,057	569,416
	Public	40,972	45,791	56,002	76,604	80,258
Gross fixed investment		103,239	127,675	156,510	171,825	186,264
	Private ^2/	73,054	87,793	116,106	119,033	134,175
	Public ^3/	30,185	39,882	40,404	52,792	52,089
Domestic demand		464,677	547,251	647,445	737,486	835,938
Exports of goods and nonfactor services		135,114	168,858	195,805	237,711	269,765
Aggregate demand		599,791	716,109	843,250	975,197	1,105,703
Imports of goods and nonfactor services		174,508	216,544	264,166	307,425	336,769
Expenditure on gross domestic product		425,283	499,565	579,084	667,772	768,934
Net factor income from abroad		-7,821	-5,979	-8,310	-6,958	-11,193
Gross national income		417,462	493,586	570,774	660,814	757,741
Net current transfers from abroad		20,253	27,090	30,989	34,820	39,485
National disposable income		437,715	520,676	601,763	695,634	797,226
		(In percent of GDP)
Consumption		85.0	84.0	84.8	84.7	84.5
Gross fixed investment		24.3	25.6	27.0	25.7	24.2
	Private ^2/	17.2	17.6	20.0	17.8	17.4
	Public ^3/	7.1	8.0	7.0	7.9	6.8
		(In millions of Sri Lanka rupees at constant 1982 prices)
Consumption		130,412	139,729	148,657	156,741	162,205
Gross fixed investment		36,021	40,271	43,958	44,163	45,383
Domestic demand		166,433	180,000	192,615	200,904	207,588
Exports of goods and nonfactor services		48,644	55,016	62,168	63,971	66,466
Aggregate demand		215,077	235,016	254,783	264,875	274,054
Imports of goods and nonfactor services		67,081	76,808	87,715	88,618	91,099
Resource gap		-18,437	-21,792	-25,547	-24,647	-24,633
Expenditure on gross domestic product		147,996	158,208	167,068	176,257	182,955
Gross domestic product at factor cost		140,990	150,783	159,269	167,953	174,261
		(Annual percentage change, constant prices)
Consumption		5.0	7.1	6.4	5.4	3.5
Gross fixed investment		4.2	11.8	9.2	0.5	2.8
Domestic demand		4.8	8.2	7.0	4.3	3.3
Exports of goods and nonfactor services		11.4	13.1	13.0	2.9	3.9
Aggregate demand		6.2	9.3	8.4	4.0	3.5
Imports of goods and nonfactor services		10.8	14.5	14.2	1.0	2.8
Gross domestic product		4.3	6.9	5.6	5.5	3.8
Memorandum items:
	Population (midyear, in millions)	17.4	17.6	17.9	18.1	18.3
	Gross national income per capita, in rupees	23,985	28,025	31,953	36,154	41,407
	Gross national income per capita, in SDRs	388	416	452	465	516

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}At market prices.

^{^2/}Includes investment by public corporations not financed through the government budget.

^{^3/}Capital expenditure and net lending by the central government, excluding privatization proceeds.

Table 1.

Sri Lanka: Gross Domestic Product and Expenditure Components, 1992–96 ^1/

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at current prices)
Consumption		361,438	419,576	490,935	565,661	649,674
	Private	320,466	373,785	434,933	489,057	569,416
	Public	40,972	45,791	56,002	76,604	80,258
Gross fixed investment		103,239	127,675	156,510	171,825	186,264
	Private ^2/	73,054	87,793	116,106	119,033	134,175
	Public ^3/	30,185	39,882	40,404	52,792	52,089
Domestic demand		464,677	547,251	647,445	737,486	835,938
Exports of goods and nonfactor services		135,114	168,858	195,805	237,711	269,765
Aggregate demand		599,791	716,109	843,250	975,197	1,105,703
Imports of goods and nonfactor services		174,508	216,544	264,166	307,425	336,769
Expenditure on gross domestic product		425,283	499,565	579,084	667,772	768,934
Net factor income from abroad		-7,821	-5,979	-8,310	-6,958	-11,193
Gross national income		417,462	493,586	570,774	660,814	757,741
Net current transfers from abroad		20,253	27,090	30,989	34,820	39,485
National disposable income		437,715	520,676	601,763	695,634	797,226
		(In percent of GDP)
Consumption		85.0	84.0	84.8	84.7	84.5
Gross fixed investment		24.3	25.6	27.0	25.7	24.2
	Private ^2/	17.2	17.6	20.0	17.8	17.4
	Public ^3/	7.1	8.0	7.0	7.9	6.8
		(In millions of Sri Lanka rupees at constant 1982 prices)
Consumption		130,412	139,729	148,657	156,741	162,205
Gross fixed investment		36,021	40,271	43,958	44,163	45,383
Domestic demand		166,433	180,000	192,615	200,904	207,588
Exports of goods and nonfactor services		48,644	55,016	62,168	63,971	66,466
Aggregate demand		215,077	235,016	254,783	264,875	274,054
Imports of goods and nonfactor services		67,081	76,808	87,715	88,618	91,099
Resource gap		-18,437	-21,792	-25,547	-24,647	-24,633
Expenditure on gross domestic product		147,996	158,208	167,068	176,257	182,955
Gross domestic product at factor cost		140,990	150,783	159,269	167,953	174,261
		(Annual percentage change, constant prices)
Consumption		5.0	7.1	6.4	5.4	3.5
Gross fixed investment		4.2	11.8	9.2	0.5	2.8
Domestic demand		4.8	8.2	7.0	4.3	3.3
Exports of goods and nonfactor services		11.4	13.1	13.0	2.9	3.9
Aggregate demand		6.2	9.3	8.4	4.0	3.5
Imports of goods and nonfactor services		10.8	14.5	14.2	1.0	2.8
Gross domestic product		4.3	6.9	5.6	5.5	3.8
Memorandum items:
	Population (midyear, in millions)	17.4	17.6	17.9	18.1	18.3
	Gross national income per capita, in rupees	23,985	28,025	31,953	36,154	41,407
	Gross national income per capita, in SDRs	388	416	452	465	516

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}At market prices.

^{^2/}Includes investment by public corporations not financed through the government budget.

^{^3/}Capital expenditure and net lending by the central government, excluding privatization proceeds.

Table 2.

Sri Lanka: Saving, Investment, and the Current Account, 1992–96

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Current revenue minus current expenditure.

^{^2/}Includes investment by public corporations not financed through the government budget.

^{^3/}Capital expenditure and net lending by the central government, excluding privatization proceeds.

^{^4/}Includes net factor income and transfers from abroad.

Table 2.

Sri Lanka: Saving, Investment, and the Current Account, 1992–96

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at current prices)
Gross fixed investment		103,239	127,675	156,510	171,825	186,264
Current account balance		-26,962	-26,575	-45,682	41,852	-38,712
National saving		76,277	101,100	110,828	129,973	147,552
Net factor income from abroad		-7,821	-5,979	-8,310	-6,958	-11,193
Net private transfers		20,253	27,090	30,989	34,820	39,485
Domestic saving		63,845	79,989	88,149	102,111	119,260
	Private	67,703	83,938	105,195	120,012	143,611
	Public	-3,858	-3,949	-17,046	-17,901	-24,351
		(In percent of GDP)
Gross fixed investment		24.3	25.6	27.0	25.7	24.2
Domestic saving		15.0	16.0	15.2	15.3	15.5
	Private	15.9	16.8	18.2	18.0	18.7
	Public ^1/	-0.9	-0.8	-2.9	-2.7	-3.2
Gross investment		24.3	25.6	27.0	25.7	24.2
	Private ^2/	17.2	17.6	20.0	17.8	17.4
	Public ^3/	7.1	8.0	7.0	7.9	6.8
National saving		17.9	20.2	19.1	19.5	19.2
	Of which: Private ^4/	18.8	21.0	22.1	22.1	22.4
Balance of payments current account		-6.3	-5.3	-7.9	-6.3	-5.0
Private sector saving minus investment		1.7	3.5	2.0	4.3	4.9
Public sector saving minus investment		-8.0	-8.8	-9.9	-10.6	-9.9

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Current revenue minus current expenditure.

^{^2/}Includes investment by public corporations not financed through the government budget.

^{^3/}Capital expenditure and net lending by the central government, excluding privatization proceeds.

^{^4/}Includes net factor income and transfers from abroad.

Table 2.

Sri Lanka: Saving, Investment, and the Current Account, 1992–96

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at current prices)
Gross fixed investment		103,239	127,675	156,510	171,825	186,264
Current account balance		-26,962	-26,575	-45,682	41,852	-38,712
National saving		76,277	101,100	110,828	129,973	147,552
Net factor income from abroad		-7,821	-5,979	-8,310	-6,958	-11,193
Net private transfers		20,253	27,090	30,989	34,820	39,485
Domestic saving		63,845	79,989	88,149	102,111	119,260
	Private	67,703	83,938	105,195	120,012	143,611
	Public	-3,858	-3,949	-17,046	-17,901	-24,351
		(In percent of GDP)
Gross fixed investment		24.3	25.6	27.0	25.7	24.2
Domestic saving		15.0	16.0	15.2	15.3	15.5
	Private	15.9	16.8	18.2	18.0	18.7
	Public ^1/	-0.9	-0.8	-2.9	-2.7	-3.2
Gross investment		24.3	25.6	27.0	25.7	24.2
	Private ^2/	17.2	17.6	20.0	17.8	17.4
	Public ^3/	7.1	8.0	7.0	7.9	6.8
National saving		17.9	20.2	19.1	19.5	19.2
	Of which: Private ^4/	18.8	21.0	22.1	22.1	22.4
Balance of payments current account		-6.3	-5.3	-7.9	-6.3	-5.0
Private sector saving minus investment		1.7	3.5	2.0	4.3	4.9
Public sector saving minus investment		-8.0	-8.8	-9.9	-10.6	-9.9

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Current revenue minus current expenditure.

^{^2/}Includes investment by public corporations not financed through the government budget.

^{^3/}Capital expenditure and net lending by the central government, excluding privatization proceeds.

^{^4/}Includes net factor income and transfers from abroad.

Table 3.

Sri Lanka: Gross Domestic Product by Industrial Origin at Current Prices, 1992–96

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Including forestry and fishing.

^{^2/}Tea, rubber, and coconuts.

^{^3/}Based on factor costs.

Table 3.

Sri Lanka: Gross Domestic Product by Industrial Origin at Current Prices, 1992–96

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at current factor costs)
Agriculture ^1/		100,080	111,659	124,370	137,678	156,108
	Plantation crops ^2/	15,988	18,699	19,231	20,560	27,181
	Paddy	19,659	21,586	21,241	21,645	19,892
	Fishing	10,586	11,930	14,376	16,604	18,763
	Other	53,847	59,444	69,522	78,869	90,272
Mining and quarrying		6,757	8,446	10,473	11,510	13,927
Manufacturing		59,346	68,881	80,482	94,098	112,724
	Plantation crop processing	7,839	8,427	9,994	11,853	16,203
	Other	51,507	60,454	70,488	82,245	96,521
Construction		28,485	32,615	38,323	44,455	48,234
Services		192,331	231,491	269,652	310,586	364,941
Gross domestic product		386,999	453,092	523,300	598,327	695,934
Net factor income from abroad		-7,820	-5,979	-8,310	-6,958	-11,193
Gross national product		379,179	447,113	514,990	591,369	684,741
		(In percent of GDP)
Agriculture ^1/		25.9	24.6	23.8	23.0	22.4
	Plantation crops ^2/	4.1	4.1	3.7	3.4	3.9
	Paddy	5.1	4.8	4.1	3.6	2.9
	Fishing	2.7	2.6	2.7	2.8	2.7
	Other	13.9	13.1	13.3	13.2	13.0
Mining and quarrying		1.7	1.9	2.0	1.9	2.0
Manufacturing		15.3	15.2	15.4	15.7	16.2
	Plantation crop processing	2.0	1.9	1.9	2.0	23
	Other	13.3	13.3	13.5	13.7	13.9
Construction		7.4	7.2	7.3	7.4	6.9
Services		49.7	51.1	51.5	51.9	52.4
Gross domestic product		100.0	100.0	100.0	100.0	100.0
Memorandum items:
	Annual percentage increase in implicit GDP deflator ^3/	10.1	9.5	9.3	8.4	12.1
	CPI Inflation	11.4	11.7	8.4	7.7	15.9

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Including forestry and fishing.

^{^2/}Tea, rubber, and coconuts.

^{^3/}Based on factor costs.

Table 3.

Sri Lanka: Gross Domestic Product by Industrial Origin at Current Prices, 1992–96

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at current factor costs)
Agriculture ^1/		100,080	111,659	124,370	137,678	156,108
	Plantation crops ^2/	15,988	18,699	19,231	20,560	27,181
	Paddy	19,659	21,586	21,241	21,645	19,892
	Fishing	10,586	11,930	14,376	16,604	18,763
	Other	53,847	59,444	69,522	78,869	90,272
Mining and quarrying		6,757	8,446	10,473	11,510	13,927
Manufacturing		59,346	68,881	80,482	94,098	112,724
	Plantation crop processing	7,839	8,427	9,994	11,853	16,203
	Other	51,507	60,454	70,488	82,245	96,521
Construction		28,485	32,615	38,323	44,455	48,234
Services		192,331	231,491	269,652	310,586	364,941
Gross domestic product		386,999	453,092	523,300	598,327	695,934
Net factor income from abroad		-7,820	-5,979	-8,310	-6,958	-11,193
Gross national product		379,179	447,113	514,990	591,369	684,741
		(In percent of GDP)
Agriculture ^1/		25.9	24.6	23.8	23.0	22.4
	Plantation crops ^2/	4.1	4.1	3.7	3.4	3.9
	Paddy	5.1	4.8	4.1	3.6	2.9
	Fishing	2.7	2.6	2.7	2.8	2.7
	Other	13.9	13.1	13.3	13.2	13.0
Mining and quarrying		1.7	1.9	2.0	1.9	2.0
Manufacturing		15.3	15.2	15.4	15.7	16.2
	Plantation crop processing	2.0	1.9	1.9	2.0	23
	Other	13.3	13.3	13.5	13.7	13.9
Construction		7.4	7.2	7.3	7.4	6.9
Services		49.7	51.1	51.5	51.9	52.4
Gross domestic product		100.0	100.0	100.0	100.0	100.0
Memorandum items:
	Annual percentage increase in implicit GDP deflator ^3/	10.1	9.5	9.3	8.4	12.1
	CPI Inflation	11.4	11.7	8.4	7.7	15.9

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Including forestry and fishing.

^{^2/}Tea, rubber, and coconuts.

^{^3/}Based on factor costs.

Table 4.

Sri Lanka: Gross Domestic Product by Industrial Origin at Constant Prices, 1992–96

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Including forestry and fishing.

^{^2/}Tea, rubber, and coconuts.

^3/Based on factor costs.

Table 4.

Sri Lanka: Gross Domestic Product by Industrial Origin at Constant Prices, 1992–96

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at 1982 factor costs)
Agriculture ^1/		30,090	31,554	32,593	33,659	32,109
	Plantation crops ^2/	5,943	6,465	7,180	7,408	7,343
	Paddy	5,882	6,447	6,750	7,067	5,180
	Fishing	2,625	2,811	2,850	2,990	2,873
	Other	15,640	15,831	15,813	16,194	16,713
Mining and quarrying		3,300	3,693	3,915	4,048	4,408
Manufacturing		26,059	28,806	31,418	34,294	36,539
	Plantation crop processing	2,912	3,157	3,567	3,724	3,761
	Other	23,147	25,649	27,851	30,570	32,778
Construction		9,765	10,400	11,024	11,564	11,957
Services		71,776	76,330	80,319	84,388	89,248
	Of which:
	Public administration and defense	6,449	6,642	6,848	7,218	7,579
	Wholesale and retail trade	30,074	32,584	34,667	35,906	37,765
Gross domestic product		140,990	150,783	159,269	167,953	174,261
Net factor income from abroad		-2,916	-2,039	-2,698	-2,056	-3,205
Gross national product		138,074	148,744	156,571	165,897	171,056
		(Annual percentage change)
Agriculture ^1/		-1.6	4.9	3.3	3.3	-4.6
	Plantation crops ^2/	-9.7	8.8	11.1	3.2	-0.9
	Paddy	-2.0	9.6	4.7	4.7	-26.7
	Fishing	4.1	7.1	1.4	4.9	-3.9
	Other	1.1	1.2	-0.1	2.4	3.2
Mining and quarrying		-6.0	11.9	6.0	3.4	8.9
Manufacturing		8.8	10.5	9.1	9.2	6.5
	Plantation crop processing	-12.6	8.4	13.0	4.4	1.0
	Other	12.3	10.8	8.6	9.8	7.2
Construction		8.1	6.5	6.0	4.9	3.4
Services		53	6.3	5.2	5.1	5.8
	Of which:
	Wholesale and retail trade	5.3	8.3	6.4	3.6	5.2
Gross domestic product		4.3	6.9	5.6	5.5	3.8

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Including forestry and fishing.

^{^2/}Tea, rubber, and coconuts.

^3/Based on factor costs.

Table 4.

Sri Lanka: Gross Domestic Product by Industrial Origin at Constant Prices, 1992–96

		1992	1993	1994	1995	1996
		(In millions of Sri Lanka rupees at 1982 factor costs)
Agriculture ^1/		30,090	31,554	32,593	33,659	32,109
	Plantation crops ^2/	5,943	6,465	7,180	7,408	7,343
	Paddy	5,882	6,447	6,750	7,067	5,180
	Fishing	2,625	2,811	2,850	2,990	2,873
	Other	15,640	15,831	15,813	16,194	16,713
Mining and quarrying		3,300	3,693	3,915	4,048	4,408
Manufacturing		26,059	28,806	31,418	34,294	36,539
	Plantation crop processing	2,912	3,157	3,567	3,724	3,761
	Other	23,147	25,649	27,851	30,570	32,778
Construction		9,765	10,400	11,024	11,564	11,957
Services		71,776	76,330	80,319	84,388	89,248
	Of which:
	Public administration and defense	6,449	6,642	6,848	7,218	7,579
	Wholesale and retail trade	30,074	32,584	34,667	35,906	37,765
Gross domestic product		140,990	150,783	159,269	167,953	174,261
Net factor income from abroad		-2,916	-2,039	-2,698	-2,056	-3,205
Gross national product		138,074	148,744	156,571	165,897	171,056
		(Annual percentage change)
Agriculture ^1/		-1.6	4.9	3.3	3.3	-4.6
	Plantation crops ^2/	-9.7	8.8	11.1	3.2	-0.9
	Paddy	-2.0	9.6	4.7	4.7	-26.7
	Fishing	4.1	7.1	1.4	4.9	-3.9
	Other	1.1	1.2	-0.1	2.4	3.2
Mining and quarrying		-6.0	11.9	6.0	3.4	8.9
Manufacturing		8.8	10.5	9.1	9.2	6.5
	Plantation crop processing	-12.6	8.4	13.0	4.4	1.0
	Other	12.3	10.8	8.6	9.8	7.2
Construction		8.1	6.5	6.0	4.9	3.4
Services		53	6.3	5.2	5.1	5.8
	Of which:
	Wholesale and retail trade	5.3	8.3	6.4	3.6	5.2
Gross domestic product		4.3	6.9	5.6	5.5	3.8

Sources: Data provided by the Sri Lanka authorities; and staff estimates.

^{^1/}Including forestry and fishing.

^{^2/}Tea, rubber, and coconuts.

^3/Based on factor costs.

Table 5.

Sri Lanka: Basic Data on the Tea Sector, 1992–96

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}Estimated; includes depreciation and overhead cost, excludes finance charges.

^{^3/}Average Colombo auction price minus cost of production.

Table 5.

Sri Lanka: Basic Data on the Tea Sector, 1992–96

				1992	1993	1994	1995	1996 ^1/
				(Area in thousands of hectares and volume in millions of kilograms)
Production, yield and exports
	Planted area			222	222	187	189	188
	Production			179	232	242	246	258
		By type:
			High grown	54	73	77	74	72
			Medium grown	38	47	47	51	48
			Low grown	87	112	118	122	138
		Exports		182	218	230	241	244
	Yield per hectare			806	1,045	1,295	1,302	1,372
	Replanting area			1.42	1.31	1.22	1.21	0.99
				(In Sri Lanka rupees per kilogram)
Prices and costs
	Average f.o.b. export price			81.98	91.16	91.32	102.31	139.56
	Average Colombo auction price (net)			60.51	68.88	65.12	72.21	103.88
Cost of production ^2/				72.26	75.81	75.67	76.14	90.75
Producer’s margin ^3/				-11.75	-6.93	-10.55	-3.93	13.13

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}Estimated; includes depreciation and overhead cost, excludes finance charges.

^{^3/}Average Colombo auction price minus cost of production.

Table 5.

Sri Lanka: Basic Data on the Tea Sector, 1992–96

				1992	1993	1994	1995	1996 ^1/
				(Area in thousands of hectares and volume in millions of kilograms)
Production, yield and exports
	Planted area			222	222	187	189	188
	Production			179	232	242	246	258
		By type:
			High grown	54	73	77	74	72
			Medium grown	38	47	47	51	48
			Low grown	87	112	118	122	138
		Exports		182	218	230	241	244
	Yield per hectare			806	1,045	1,295	1,302	1,372
	Replanting area			1.42	1.31	1.22	1.21	0.99
				(In Sri Lanka rupees per kilogram)
Prices and costs
	Average f.o.b. export price			81.98	91.16	91.32	102.31	139.56
	Average Colombo auction price (net)			60.51	68.88	65.12	72.21	103.88
Cost of production ^2/				72.26	75.81	75.67	76.14	90.75
Producer’s margin ^3/				-11.75	-6.93	-10.55	-3.93	13.13

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}Estimated; includes depreciation and overhead cost, excludes finance charges.

^{^3/}Average Colombo auction price minus cost of production.

Table 6.

Sri Lanka: Basic Data on the Rubber Sector, 1992–96

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}For RSSI category of rubber.

^{^3/}Combined figure for both public and private sectors.

^{^4/}Average Colombo auction price minus cost of production.

Table 6.

Sri Lanka: Basic Data on the Rubber Sector, 1992–96

		1992	1993	1994	1995	1996 ^1/
		(Area in thousands of hectares and volume in millions of kilograms)
Production, yield, and exports
	Area under cultivation	195	161	161	162	162
	Area under tapping	146	119	121	124	122
	Production	106	104	105	106	112
	Exports	79	70	69	68	72
	Domestic use	29	33	36	37	40
	Yield (kg/ha)	726	874	878	855	918
	Fertilizer use (in ‘000 metric tons)	13	18	17	15	17
	Replanting area	3.92	2.42	1.62	3.24	3.20
		(In Sri Lanka rupees per kilogram)
Prices and costs
	Average f.o.b. export price ^2/	37.65	44.34	51.81	83.69	79.78
	Average Colombo auction price ^2/	29.28	35.48	50.36	72.04	67.85
Cost of production ^3/ ^4/		35.80	43.14	38.19	83.69	79.78
Producer’s margin ^4/		-6.52	-7.66	12.17	26.24	31.15

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}For RSSI category of rubber.

^{^3/}Combined figure for both public and private sectors.

^{^4/}Average Colombo auction price minus cost of production.

Table 6.

Sri Lanka: Basic Data on the Rubber Sector, 1992–96

		1992	1993	1994	1995	1996 ^1/
		(Area in thousands of hectares and volume in millions of kilograms)
Production, yield, and exports
	Area under cultivation	195	161	161	162	162
	Area under tapping	146	119	121	124	122
	Production	106	104	105	106	112
	Exports	79	70	69	68	72
	Domestic use	29	33	36	37	40
	Yield (kg/ha)	726	874	878	855	918
	Fertilizer use (in ‘000 metric tons)	13	18	17	15	17
	Replanting area	3.92	2.42	1.62	3.24	3.20
		(In Sri Lanka rupees per kilogram)
Prices and costs
	Average f.o.b. export price ^2/	37.65	44.34	51.81	83.69	79.78
	Average Colombo auction price ^2/	29.28	35.48	50.36	72.04	67.85
Cost of production ^3/ ^4/		35.80	43.14	38.19	83.69	79.78
Producer’s margin ^4/		-6.52	-7.66	12.17	26.24	31.15

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}For RSSI category of rubber.

^{^3/}Combined figure for both public and private sectors.

^{^4/}Average Colombo auction price minus cost of production.

Table 7.

Sri Lanka: Basic Data on the Coconut Sector, 1992–96

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}In nut equivalent per metric ton; desiccated coconut = 6,800 nuts; oil = 8,000 nuts; and copra = 4,925 nuts.

^{^3/}Estimated on the basis of per capita consumption of 90 nuts per year; excluding industrial use.

^{^4/}Average Colombo market price minus cost of production.

Table 7.

Sri Lanka: Basic Data on the Coconut Sector, 1992–96

				1992	1993	1994	1995	1996 ^1/
				(Area in thousands of hectares and volume in millions of kilograms)
Production, yield, and exports
	Planted area			376	416	412	416	417
	Production			2,296	2,164	2,622	2,755	2,546
		By type:
			Desiccated coconut ^2/	365	269	380	465	425
			Coconut oil ^2/	242	176	480	516	328
			Copra ^2/	29	24	32	50	39
			Fresh nut exports	23	22	25	27	17
			Domestic nut consumption ^3/	1,635	1,668	1,687	1,716	1,720
		By sector:
	Yield (nuts/ha)			6,106	5,202	6,364	6,626	6,106
	Exports			412	293	437	579	475
	Fertilizer use (in’000 metric tons)			34	35	31	34	39
Replanting area				1.59	1.55	0.84	0.99	0.58
	Replanting subsidy (in SL Rs per ha)			12,000	25,000	25,000	25,000	38,750
				(In Sri Lanka rupees per thousand nuts)
Prices and costs
	Average f.o.b. export price			6,470	6,309	5,672	6,080	9,420
	Average Colombo market price (fresh nuts)			4,250	6,470	6,300	5,450	9,410
	Cost of production			1,970	2,030	1,840	2,020	2,180
	Producer’s margin ^4/			2,280	4,440	4,460	3,430	7,230

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}In nut equivalent per metric ton; desiccated coconut = 6,800 nuts; oil = 8,000 nuts; and copra = 4,925 nuts.

^{^3/}Estimated on the basis of per capita consumption of 90 nuts per year; excluding industrial use.

^{^4/}Average Colombo market price minus cost of production.

Table 7.

Sri Lanka: Basic Data on the Coconut Sector, 1992–96

				1992	1993	1994	1995	1996 ^1/
				(Area in thousands of hectares and volume in millions of kilograms)
Production, yield, and exports
	Planted area			376	416	412	416	417
	Production			2,296	2,164	2,622	2,755	2,546
		By type:
			Desiccated coconut ^2/	365	269	380	465	425
			Coconut oil ^2/	242	176	480	516	328
			Copra ^2/	29	24	32	50	39
			Fresh nut exports	23	22	25	27	17
			Domestic nut consumption ^3/	1,635	1,668	1,687	1,716	1,720
		By sector:
	Yield (nuts/ha)			6,106	5,202	6,364	6,626	6,106
	Exports			412	293	437	579	475
	Fertilizer use (in’000 metric tons)			34	35	31	34	39
Replanting area				1.59	1.55	0.84	0.99	0.58
	Replanting subsidy (in SL Rs per ha)			12,000	25,000	25,000	25,000	38,750
				(In Sri Lanka rupees per thousand nuts)
Prices and costs
	Average f.o.b. export price			6,470	6,309	5,672	6,080	9,420
	Average Colombo market price (fresh nuts)			4,250	6,470	6,300	5,450	9,410
	Cost of production			1,970	2,030	1,840	2,020	2,180
	Producer’s margin ^4/			2,280	4,440	4,460	3,430	7,230

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}In nut equivalent per metric ton; desiccated coconut = 6,800 nuts; oil = 8,000 nuts; and copra = 4,925 nuts.

^{^3/}Estimated on the basis of per capita consumption of 90 nuts per year; excluding industrial use.

^{^4/}Average Colombo market price minus cost of production.

Table 8.

Sri Lanka: Paddy Production and Other Agriculture, 1992–96

(Volume in thousands of metric tons, area in thousands of hectares, and yield in kilograms per hectare)

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}November-May season.

^{^3/}May-November season.

^{^4/}One bushel is 20.9 kilograms.

^{^5/}End of period.

Table 8.

Sri Lanka: Paddy Production and Other Agriculture, 1992–96

(Volume in thousands of metric tons, area in thousands of hectares, and yield in kilograms per hectare)

	1992	1993	1994	1995	1996 ^1/
Total
Production
Gross area sown	2,340	2,570	2,684	2,810	2,061
Net area harvested	803	835	930	915	749
Yield on net area harvested	682	732	798	795	587
Fertilizer use (in ‘000 metric tons)	3,431	3,511	3,363	3,535	3,513
	208	248	270	257	238
Maha ^2/
Production
Net area harvested	1,630	1,692	1,670	1,761	1,331
Yield on net area harvested	464	480	499	489	377
Yale ^3/	3,512	3,516	3,345	3,603	3,534
Production
Net area harvested	710	878	1,014	1,049	730
Yield on net area harvested	218	252	299	306	210
	3,253	3,481	3,393	3,427	3,477
Memorandum items:
Paddy wholesale (market) price (in SL Rs/bushel) ^4/	179	183	168	163	213
Guaranteed price scheme (in SL Rs/bushel) ^4/, ^5/	136	155	155	155	155
Purchases under Guaranteed Price Scheme (in percent of total production)	0.3	1.8	4.4	10.0	0.05
Rice imports (in ‘000 metric tons)	237	209	58	9	341
Other agricultural products:
Sugarcane	512.5	802	874	858	903
Tobacco	10	12	12	11	11
Fish	206	221	224	238	229

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}November-May season.

^{^3/}May-November season.

^{^4/}One bushel is 20.9 kilograms.

^{^5/}End of period.

Table 8.

Sri Lanka: Paddy Production and Other Agriculture, 1992–96

(Volume in thousands of metric tons, area in thousands of hectares, and yield in kilograms per hectare)

	1992	1993	1994	1995	1996 ^1/
Total
Production
Gross area sown	2,340	2,570	2,684	2,810	2,061
Net area harvested	803	835	930	915	749
Yield on net area harvested	682	732	798	795	587
Fertilizer use (in ‘000 metric tons)	3,431	3,511	3,363	3,535	3,513
	208	248	270	257	238
Maha ^2/
Production
Net area harvested	1,630	1,692	1,670	1,761	1,331
Yield on net area harvested	464	480	499	489	377
Yale ^3/	3,512	3,516	3,345	3,603	3,534
Production
Net area harvested	710	878	1,014	1,049	730
Yield on net area harvested	218	252	299	306	210
	3,253	3,481	3,393	3,427	3,477
Memorandum items:
Paddy wholesale (market) price (in SL Rs/bushel) ^4/	179	183	168	163	213
Guaranteed price scheme (in SL Rs/bushel) ^4/, ^5/	136	155	155	155	155
Purchases under Guaranteed Price Scheme (in percent of total production)	0.3	1.8	4.4	10.0	0.05
Rice imports (in ‘000 metric tons)	237	209	58	9	341
Other agricultural products:
Sugarcane	512.5	802	874	858	903
Tobacco	10	12	12	11	11
Fish	206	221	224	238	229

Source: Data provided by the Sri Lanka authorities.

^{^1/}Provisional estimates.

^{^2/}November-May season.

^{^3/}May-November season.

^{^4/}One bushel is 20.9 kilograms.

^{^5/}End of period.

Table 9.

Sri Lanka: Consumption and Prices of Petroleum and Electricity, 1992–96

Source: Data provided by the Sri Lanka authorities.

^{^1/}Including use for electricity generation.

^{^2/}End of period.

^{^3/}Price includes taxes. From December 1995, taxes consist of a 20 percent turnover tax on gasoline, a 6 percent turnover tax on all other petroleum products, and a 4.5 percent defense levy on all products. There are also exercise duties of Rs 7 per liter.

^{^4/}Period average.

^{^5/}Unit cost of production including customs duty (all customs duties are charged to domestic sales), turnover taxes, and all other expenses.

^{^6/}Basic rate on household consumption of electricity between 50 and 500 kilowatt hours per month, excluding fuel surcharge levied on all users of electricity exceeding 150 kwh per month.

Table 9.

Sri Lanka: Consumption and Prices of Petroleum and Electricity, 1992–96

			1992	1993	1994	1995	1996
Gross consumption of selected petroleum products
		Kerosene	189	192	207	222	228
		Gasoline	165	173	183	191	198
		Auto diesel	606	666	725	789	1,045
		Heavy diesel	125	18	54	80	87
		Furnace oil	252	220	228	241	341
Consumption of electricity ^1/			2,946	3,296	3,565	3,915	3,595
	(In ‘000 metric tons oil equivalent)		737	824	891	979	899
Composition of electricity generation
	Hydro power		81.9	95.4	93.7	94.4	74.3
	Thermal power		18.1	4.6	6.3	5.6	22.2
	Aggreko						3.5
			(In Sri Lanka rupees per liter)
Prices of petroleum products ^2/, ^3/
	Kerosene		8.8	11.8	9.5	9.5	10.4
	Gasoline		33	35.0	35.0	40.0	50.0
	Auto diesel		11.65	12.2	11.4	12.4	13.2
	Heavy diesel		11.15	11.6	10.7	11.7	11.7
	Fuel oil		6.8	6.8	6.8	6.8	7.5
Cost price of petroleum products ^4/, ^5/
	Kerosene		11.42	13.18	12.05	11.72	12.50
	Gasoline		17.41	19.35	21.52	25.79	32.24
	Auto diesel		11.52	13.40	11.08	13.08	13.98
	Heavy diesel		9.6	12.94	11.52	12.11
	Fuel oil		4.76	5.70	6.50	6.95	7.50
	Crude oil (c.i.f., in US$ per barrel)		19.6	17.61	16.44	17.63	20.19
Price of electricity (SL Rs per Kwh) ^2/, ^6/			2.19	2.32	2.54	2.27	2.6

Source: Data provided by the Sri Lanka authorities.

^{^1/}Including use for electricity generation.

^{^2/}End of period.

^{^4/}Period average.

^{^5/}Unit cost of production including customs duty (all customs duties are charged to domestic sales), turnover taxes, and all other expenses.

^{^6/}Basic rate on household consumption of electricity between 50 and 500 kilowatt hours per month, excluding fuel surcharge levied on all users of electricity exceeding 150 kwh per month.

Table 9.

Sri Lanka: Consumption and Prices of Petroleum and Electricity, 1992–96

			1992	1993	1994	1995	1996
Gross consumption of selected petroleum products
		Kerosene	189	192	207	222	228
		Gasoline	165	173	183	191	198
		Auto diesel	606	666	725	789	1,045
		Heavy diesel	125	18	54	80	87
		Furnace oil	252	220	228	241	341
Consumption of electricity ^1/			2,946	3,296	3,565	3,915	3,595
	(In ‘000 metric tons oil equivalent)		737	824	891	979	899
Composition of electricity generation
	Hydro power		81.9	95.4	93.7	94.4	74.3
	Thermal power		18.1	4.6	6.3	5.6	22.2
	Aggreko						3.5
			(In Sri Lanka rupees per liter)
Prices of petroleum products ^2/, ^3/
	Kerosene		8.8	11.8	9.5	9.5	10.4
	Gasoline		33	35.0	35.0	40.0	50.0
	Auto diesel		11.65	12.2	11.4	12.4	13.2
	Heavy diesel		11.15	11.6	10.7	11.7	11.7
	Fuel oil		6.8	6.8	6.8	6.8	7.5
Cost price of petroleum products ^4/, ^5/
	Kerosene		11.42	13.18	12.05	11.72	12.50
	Gasoline		17.41	19.35	21.52	25.79	32.24
	Auto diesel		11.52	13.40	11.08	13.08	13.98
	Heavy diesel		9.6	12.94	11.52	12.11
	Fuel oil		4.76	5.70	6.50	6.95	7.50
	Crude oil (c.i.f., in US$ per barrel)		19.6	17.61	16.44	17.63	20.19
Price of electricity (SL Rs per Kwh) ^2/, ^6/			2.19	2.32	2.54	2.27	2.6

Source: Data provided by the Sri Lanka authorities.

^{^1/}Including use for electricity generation.

^{^2/}End of period.

^{^4/}Period average.

^{^5/}Unit cost of production including customs duty (all customs duties are charged to domestic sales), turnover taxes, and all other expenses.

^{^6/}Basic rate on household consumption of electricity between 50 and 500 kilowatt hours per month, excluding fuel surcharge levied on all users of electricity exceeding 150 kwh per month.

Table 10.

Sri Lanka: Price Indicators, 1992–96

Source: Data provided by the Sri Lanka authorities.

^{^1/}Based on market prices.

^{^2/}Data between brackets are weight in overall index.

^{^3/}Low-income housing is under rent control.

Table 10.

Sri Lanka: Price Indicators, 1992–96

				1992	1993	1994	1995	1996
				(Annual average percentage change)
GDP deflator ^1/				9.5	9.9	9.3	8.4	12.1
Colombo consumer price index				11.4	11.7	8.4	7.7	15.9
	Of which:
		Food (61.9 percent) ^2/		11.9	11.2	8.9	6.9	19.2
			Rice (6.4 percent)	10.3	2.1	0.3	2.1	25.8
			Bread, wheat flour (9.4 percent)	0.2	7.7	2.7	20.4	59.7
	Clothing (9.4 percent)			6.7	8.1	1.7	1.0	2.2
	Fuel and light (4.3 percent)			3.6	17.0	14.9	6.1	8.1
		Kerosene (4 percent)		5.4	18.8	7.3	15.4	2.4
	Rent (5.7 percent) ^3/			--	--	--	--	--
	Miscellaneous (18.7 percent)			15.1	13.0	5.9	14.1	10.8
Wholesale price index				8.8	7.6	5.0	8.8	20.5
	Domestic goods			5.6	5.8	13.0	6.8	11.7
	Imports			3.3	5.9	4.5	10.1	11.6
	Exports			18.0	11.4	-5.4	11.0	40.4
				(Annual percentage change)
	Colombo consumer price index			13.8	10.3	4.2	11.5	16.8
	Wholesale price index			8.0	7.7	1.8	16.2	18.1

Source: Data provided by the Sri Lanka authorities.

^{^1/}Based on market prices.

^{^2/}Data between brackets are weight in overall index.

^{^3/}Low-income housing is under rent control.

Table 10.

Sri Lanka: Price Indicators, 1992–96

				1992	1993	1994	1995	1996
				(Annual average percentage change)
GDP deflator ^1/				9.5	9.9	9.3	8.4	12.1
Colombo consumer price index				11.4	11.7	8.4	7.7	15.9
	Of which:
		Food (61.9 percent) ^2/		11.9	11.2	8.9	6.9	19.2
			Rice (6.4 percent)	10.3	2.1	0.3	2.1	25.8
			Bread, wheat flour (9.4 percent)	0.2	7.7	2.7	20.4	59.7
	Clothing (9.4 percent)			6.7	8.1	1.7	1.0	2.2
	Fuel and light (4.3 percent)			3.6	17.0	14.9	6.1	8.1
		Kerosene (4 percent)		5.4	18.8	7.3	15.4	2.4
	Rent (5.7 percent) ^3/			--	--	--	--	--
	Miscellaneous (18.7 percent)			15.1	13.0	5.9	14.1	10.8
Wholesale price index				8.8	7.6	5.0	8.8	20.5
	Domestic goods			5.6	5.8	13.0	6.8	11.7
	Imports			3.3	5.9	4.5	10.1	11.6
	Exports			18.0	11.4	-5.4	11.0	40.4
				(Annual percentage change)
	Colombo consumer price index			13.8	10.3	4.2	11.5	16.8
	Wholesale price index			8.0	7.7	1.8	16.2	18.1

Source: Data provided by the Sri Lanka authorities.

^{^1/}Based on market prices.

^{^2/}Data between brackets are weight in overall index.

^{^3/}Low-income housing is under rent control.

Table 11.

Sri Lanka: Selected Wage and Employment Developments, 1992–96

Source: Data provided by the Sri Lanka authorities.

^{^1/}Weighted average nominal wage for workers covered by Wage Boards; weights are based on the number employed in each trade as of end-December 1978.

^{^2/}Average of initial salary grades for nonexecutive and minor employees, skilled and nonskilled; excludes school teachers.

^{^3/}Takes into account the changes since 1987 owing to the Government’s privatization program.

^{^4/}Includes employees of government ministries, school teachers, and defense personnel.

^{^5/}Includes universities, public corporations, boards, and state-owned banks.

Table 11.

Sri Lanka: Selected Wage and Employment Developments, 1992–96

			1992	1993	1994	1995	1996
			(Index, December 1978 = 100)
Nominal wages
	Minimum wage ^1/		590.0	685.8	712.4	740.3	801.7
		Agriculture	664.0	803.7	821.5	830.9	907.9
		Industry and commerce	510.8	528.7	555.8	651.6	682.8
		Services	365.9	365.9	431.4	456.7	487.2
	Government employees ^2/		557.6	675.5	735.5	792.5	818.2
Real wages
	Minimum wage		112.0	116.6	111.7	107.7	100.7
		Agriculture	126.1	136.6	128.8	121.1	113.9
		Industry and commerce	97.1	89.9	87.2	94.8	85.9
		Services	69.6	62.2	67.6	66.5	61.3
		Government employees	106.0	114.8	115.4	115.4	103.0
			(Annual average percentage change)
Real wages
	Minimum wage		2.1	4.1	-4.2	-3.6	-6.6
		Agriculture	3.2	8.3	-5.7	-6.0	-5.9
		Industry and commerce	0.1	-7.4	-3.0	7.9	-9.4
		Services	-2.1	-10.6	8.7	-1.6	-7.8
		Government employees	-6.4	8.3	5.2	--	-10.7
			(In thousands of persons)
Employment in the public sector ^3/			1,291	1,295	1,325	1,307	1,161
		Central government ^4/	654	676	700	738	752
		Quasi-governmental institutions ^5/	634	619	625	569	409
Employment in formal private sector			3,868	3,931	3,990	--	--
	GCEC companies		104	180	206	233	242
	Other		3,764	3,751	3,784	--	--

Source: Data provided by the Sri Lanka authorities.

^{^1/}Weighted average nominal wage for workers covered by Wage Boards; weights are based on the number employed in each trade as of end-December 1978.

^{^2/}Average of initial salary grades for nonexecutive and minor employees, skilled and nonskilled; excludes school teachers.

^{^3/}Takes into account the changes since 1987 owing to the Government’s privatization program.

^{^4/}Includes employees of government ministries, school teachers, and defense personnel.

^{^5/}Includes universities, public corporations, boards, and state-owned banks.

Table 11.

Sri Lanka: Selected Wage and Employment Developments, 1992–96

			1992	1993	1994	1995	1996
			(Index, December 1978 = 100)
Nominal wages
	Minimum wage ^1/		590.0	685.8	712.4	740.3	801.7
		Agriculture	664.0	803.7	821.5	830.9	907.9
		Industry and commerce	510.8	528.7	555.8	651.6	682.8
		Services	365.9	365.9	431.4	456.7	487.2
	Government employees ^2/		557.6	675.5	735.5	792.5	818.2
Real wages
	Minimum wage		112.0	116.6	111.7	107.7	100.7
		Agriculture	126.1	136.6	128.8	121.1	113.9
		Industry and commerce	97.1	89.9	87.2	94.8	85.9
		Services	69.6	62.2	67.6	66.5	61.3
		Government employees	106.0	114.8	115.4	115.4	103.0
			(Annual average percentage change)
Real wages
	Minimum wage		2.1	4.1	-4.2	-3.6	-6.6
		Agriculture	3.2	8.3	-5.7	-6.0	-5.9
		Industry and commerce	0.1	-7.4	-3.0	7.9	-9.4
		Services	-2.1	-10.6	8.7	-1.6	-7.8
		Government employees	-6.4	8.3	5.2	--	-10.7
			(In thousands of persons)
Employment in the public sector ^3/			1,291	1,295	1,325	1,307	1,161
		Central government ^4/	654	676	700	738	752
		Quasi-governmental institutions ^5/	634	619	625	569	409
Employment in formal private sector			3,868	3,931	3,990	--	--
	GCEC companies		104	180	206	233	242
	Other		3,764	3,751	3,784	--	--

Source: Data provided by the Sri Lanka authorities.

^{^1/}Weighted average nominal wage for workers covered by Wage Boards; weights are based on the number employed in each trade as of end-December 1978.

^{^2/}Average of initial salary grades for nonexecutive and minor employees, skilled and nonskilled; excludes school teachers.

^{^3/}Takes into account the changes since 1987 owing to the Government’s privatization program.

^{^4/}Includes employees of government ministries, school teachers, and defense personnel.

^{^5/}Includes universities, public corporations, boards, and state-owned banks.

Table 12.

Sri Lanka: Labor Force, Employment, and Unemployment, 1992–96

Source: Department of Census and Statistics, Labor Force Survey.

^{^1/}Data as of May 1990, excluding northern and eastern provinces.

^{^2/}Data as of April 1992, excluding northern and eastern provinces. A15

^{^3/}Data as of April 1993, excluding northern and eastern provinces.

^{^4/}Data as of April 1994, excluding northern and eastern provinces.

^{^5/}Data as of April 1995, excluding northern and eastern provinces.

^{^6/}Less than General Certificate of Education (Ordinary Level).

Table 12.

Sri Lanka: Labor Force, Employment, and Unemployment, 1992–96

		1992 ^1/	1993 ^2/	1994 ^3/	1995 ^4/	1996 ^5/
		(In millions of persons)
Total labor force		5.80	6.08	6.17	6.06	622
	Male	4.06	4.06	4.18	4.11	4.19
	Female	1.76	2.02	1.99	1.95	2.03
	Urban	1.17	1.11	1.07	1.20	0.80
	Rural	4.64	4.97	5.01	4.86	5.41
Total employed		4.85	5.26	536	5.34	5.50
	Male	3.60	3.66	3.80	3.75	3.85
	Female	1.25	1.60	1.56	1.59	1.65
	Urban	0.98	0.90	0.90	1.04	0.71
	Rural	3.87	4.36	4.46	4.30	4.79
Total unemployed		0.96	0.83	0.80	0.72	0.71
	Male	0.45	0.40	0.38	0.36	0.34
	Female	0.51	0.43	0.42	0.36	0.38
	Urban	0.19	0.22	0.17	0.16	0.09
	Rural	0.79	0.61	0.63	0.56	0.62
		(In percent of labor force)
Unemployment rate		16.6	13.6	13.0	11.9	11.5
	Male	11.2	9.9	9.2	8.8	8.0
	Female	29.0	21.0	21.2	18.4	18.7
	Urban	16.5	19.5	16.0	13.7	11.7
	Rural	16.6	12.3	12.4	11.5	11.5
		(In percent of unemployed)
	Male	47.2	48.6	47.6	50.3	46.9
	Female	52.8	51.4	52.4	49.7	53.1
	Urban	20.0	26.3	21.3	22.8	13.1
	Rural	80.0	73.7	78.7	77.2	86.9
	Age 24 years or younger	56.6	61.5	67.0	61.6	64.5
	Less than 9 years of schooling ^6/	61.0	56.2	49.6	49.7	54.5

Source: Department of Census and Statistics, Labor Force Survey.

^{^1/}Data as of May 1990, excluding northern and eastern provinces.

^{^2/}Data as of April 1992, excluding northern and eastern provinces. A15

^{^3/}Data as of April 1993, excluding northern and eastern provinces.

^{^4/}Data as of April 1994, excluding northern and eastern provinces.

^{^5/}Data as of April 1995, excluding northern and eastern provinces.

^{^6/}Less than General Certificate of Education (Ordinary Level).

Table 12.

Sri Lanka: Labor Force, Employment, and Unemployment, 1992–96

		1992 ^1/	1993 ^2/	1994 ^3/	1995 ^4/	1996 ^5/
		(In millions of persons)
Total labor force		5.80	6.08	6.17	6.06	622
	Male	4.06	4.06	4.18	4.11	4.19
	Female	1.76	2.02	1.99	1.95	2.03
	Urban	1.17	1.11	1.07	1.20	0.80
	Rural	4.64	4.97	5.01	4.86	5.41
Total employed		4.85	5.26	536	5.34	5.50
	Male	3.60	3.66	3.80	3.75	3.85
	Female	1.25	1.60	1.56	1.59	1.65
	Urban	0.98	0.90	0.90	1.04	0.71
	Rural	3.87	4.36	4.46	4.30	4.79
Total unemployed		0.96	0.83	0.80	0.72	0.71
	Male	0.45	0.40	0.38	0.36	0.34
	Female	0.51	0.43	0.42	0.36	0.38
	Urban	0.19	0.22	0.17	0.16	0.09
	Rural	0.79	0.61	0.63	0.56	0.62
		(In percent of labor force)
Unemployment rate		16.6	13.6	13.0	11.9	11.5
	Male	11.2	9.9	9.2	8.8	8.0
	Female	29.0	21.0	21.2	18.4	18.7
	Urban	16.5	19.5	16.0	13.7	11.7
	Rural	16.6	12.3	12.4	11.5	11.5
		(In percent of unemployed)
	Male	47.2	48.6	47.6	50.3	46.9
	Female	52.8	51.4	52.4	49.7	53.1
	Urban	20.0	26.3	21.3	22.8	13.1
	Rural	80.0	73.7	78.7	77.2	86.9
	Age 24 years or younger	56.6	61.5	67.0	61.6	64.5
	Less than 9 years of schooling ^6/	61.0	56.2	49.6	49.7	54.5

Source: Department of Census and Statistics, Labor Force Survey.

^{^1/}Data as of May 1990, excluding northern and eastern provinces.

^{^2/}Data as of April 1992, excluding northern and eastern provinces. A15

^{^3/}Data as of April 1993, excluding northern and eastern provinces.

^{^4/}Data as of April 1994, excluding northern and eastern provinces.

^{^5/}Data as of April 1995, excluding northern and eastern provinces.

^{^6/}Less than General Certificate of Education (Ordinary Level).

Table 13.

Sri Lanka: Employment by Economic Sectors, 1992–96

Source: Department of Census and Statistics, Labor Force Survey.

^{^1/}Data as of May 1990, excluding northern and eastern provinces.

^{^2/}Data as of April 1992, excluding northern and eastern provinces.

^{^3/}Data as of April 1993, excluding northern and eastern provinces.

^{^4/}Data as of April 1994, excluding northern and eastern provinces.

^{^5/}Data as of April 1995, excluding northern and eastern provinces.

^6/Less than General Certificate of Education (Ordinary Level).

Table 13.

Sri Lanka: Employment by Economic Sectors, 1992–96

		1992 ^1/	1993 ^2/	1994 ^3/	1995 ^4/	1996 ^5/
		(In millions of persons)
Total employed		4.85	5.26	5.36	5.34	5.50
	By economic sector:
	Agriculture	1.90	2.37	2.19	1.81	2.14
	Mining and quarrying	0.11	0.08	0.04	0.06	0.10
	Manufacturing	0.65	0.66	0.72	0.69	0.78
	Utilities	0.02	0.04	0.03	0.02	0.03
	Construction	0.26	0.20	0.26	0.27	0.25
	Trade and hotels	0.56	0.54	0.56	0.84	0.66
	Transportation, communications, storage	0.20	0.16	0.25	0.26	0.26
	Insurance and real estate	0.08	0.07	0.13	0.10	0.09
	Personal services	0.81	0.85	0.97	0.95	1.00
	Other	0.24	0.29	0.20	0.32	0.18
		(In percent of total employment)
	Agriculture	39.2	45.1	40.9	33.9	38.9
	Mining and quarrying	2.3	1.5	0.7	1.1	1.8
	Manufacturing	13.4	12.5	13.4	12.9	14.2
	Utilities	0.4	0.8	0.6	0.4	0.5
	Construction	5.4	3.8	4.9	5.1	4.5
	Trade and hotels	11.5	10.3	10.4	15.7	12.0
	Transportation, communications, storage	4.1	3.0	4.7	4.9	4.7
	Insurance and real estate	1.6	1.3	2.4	1.9	1.6
	Personal services	16.7	16.2	18.1	17.8	18.2
	Other	4.9	5.5	3.7	6.0	3.3

Source: Department of Census and Statistics, Labor Force Survey.

^{^1/}Data as of May 1990, excluding northern and eastern provinces.

^{^2/}Data as of April 1992, excluding northern and eastern provinces.

^{^3/}Data as of April 1993, excluding northern and eastern provinces.

^{^4/}Data as of April 1994, excluding northern and eastern provinces.

^{^5/}Data as of April 1995, excluding northern and eastern provinces.

^6/Less than General Certificate of Education (Ordinary Level).

Table 13.

Sri Lanka: Employment by Economic Sectors, 1992–96

		1992 ^1/	1993 ^2/	1994 ^3/	1995 ^4/	1996 ^5/
		(In millions of persons)
Total employed		4.85	5.26	5.36	5.34	5.50
	By economic sector:
	Agriculture	1.90	2.37	2.19	1.81	2.14
	Mining and quarrying	0.11	0.08	0.04	0.06	0.10
	Manufacturing	0.65	0.66	0.72	0.69	0.78
	Utilities	0.02	0.04	0.03	0.02	0.03
	Construction	0.26	0.20	0.26	0.27	0.25
	Trade and hotels	0.56	0.54	0.56	0.84	0.66
	Transportation, communications, storage	0.20	0.16	0.25	0.26	0.26
	Insurance and real estate	0.08	0.07	0.13	0.10	0.09
	Personal services	0.81	0.85	0.97	0.95	1.00
	Other	0.24	0.29	0.20	0.32	0.18
		(In percent of total employment)
	Agriculture	39.2	45.1	40.9	33.9	38.9
	Mining and quarrying	2.3	1.5	0.7	1.1	1.8
	Manufacturing	13.4	12.5	13.4	12.9	14.2
	Utilities	0.4	0.8	0.6	0.4	0.5
	Construction	5.4	3.8	4.9	5.1	4.5
	Trade and hotels	11.5	10.3	10.4	15.7	12.0
	Transportation, communications, storage	4.1	3.0	4.7	4.9	4.7
	Insurance and real estate	1.6	1.3	2.4	1.9	1.6
	Personal services	16.7	16.2	18.1	17.8	18.2
	Other	4.9	5.5	3.7	6.0	3.3

Source: Department of Census and Statistics, Labor Force Survey.

^{^1/}Data as of May 1990, excluding northern and eastern provinces.

^{^2/}Data as of April 1992, excluding northern and eastern provinces.

^{^3/}Data as of April 1993, excluding northern and eastern provinces.

^{^4/}Data as of April 1994, excluding northern and eastern provinces.

^{^5/}Data as of April 1995, excluding northern and eastern provinces.

^6/Less than General Certificate of Education (Ordinary Level).

Table 14.

Sri Lanka: Summary of Central Government Operations, 1992–97

Sources: Data provided by the Ministry of Finance; and Fund staff estimates.

^{^1/}Includes external debt-financed military expenditure.

^{^2/}Asset sales are treated here as a component of financing. The authorities classify asset sales as negative net lendin

^{^3/}Before grants; including privatization proceeds; military expenditures on cash basis (i.e., excluding external debt-financed military expenditure).

Table 14.

Sri Lanka: Summary of Central Government Operations, 1992–97

				1992	1993	1994	1995 ^1/	1996 ^1/		1997
								Budget	Est.	Budget
				(In millions of Sri Lanka rupees)
Total revenue				85,781	98,339	110,047	136,258	147,982	146,279	170,736
	Tax			76,353	85,891	99,417	118,543	132,645	130,202	151,451
	Nontax			9,428	12,448	10,630	17,715	15,337	16,077	19,285
Total expenditure and net lending				119,823	141,660	170,759	203,482	229,485	219,438	240,570
	Current expenditure			91,388	103,753	130,818	157,350	174,573	174,493	184,422
	Capital expenditure			24,949	33,662	30,391	39,327	43,203	39,162	47,879
	Net lending ^2/			3,486	4,245	9,550	6,805	11,709	5,783	8,269
Overall deficit (before grants)				-34042	-43321	-60712	-67224	-81503	-73159	-69834
	Grants			8,280	8,025	8,257	9,028	9,000	8,500	10,208
	Net foreign borrowing			7,361	9,855	11,778	21,224	19,078	10,911	14,194
	Net domestic borrowing ^2/			18,401	25,441	40,677	36,972	53,425	53,748	45,432
		Of which:	Banking system	2,323	6,079	1,156	7,065	--	12,344	--
			Asset sales ^2/	2,850	1,200	2,996	3,001	21,000	4,728	5,000
				(In percent of GDP)
Total revenue				20.2	19.7	19.0	20.4	19.1	19.0	19.1
	Tax			18.0	17.2	17.2	17.8	17.1	16.9	17.0
	Nontax			2.2	2.5	1.8	2.7	2.0	2.1	2.2
Total expenditure and net lending				28.2	28.4	29.5	30.5	29.6	28.5	27.0
	Current expenditure			21.5	20.8	22.6	23.6	22.5	22.7	20.7
	Capital expenditure ^2/			5.9	6.7	5.2	5.9	5.6	5.1	5.4
	Net lending			0.8	0.8	1.6	1.0	1.5	0.8	0.9
Current account balance				-1.3	-1.1	-3.6	-3.2	-3.4	-3.7	-1.5
Overall deficit (before grants)				-8.0	-8.7	-10.5	-10.1	-10.5	-9.5	-7.8
	Grants			1.9	1.6	1.4	1.4	1.2	1.1	1.1
	Net foreign borrowing			1.7	2.0	2.0	3.2	2.5	1.4	1.6
	Net domestic borrowing			4.3	5.1	7.0	5.5	6.9	7.0	5.1
		Of which:	Banking system	-0.5	-1.2	0.2	1.1	--	1.6	0.0
			Assets ^2/	0.7	0.2	0.5	0.4	2.7	0.6	0.6
Memorandum items:
	Overall deficit (auth. definition) ^3/			-7.3	-8.4	-10.0	-9.6	-7.8	-8.9	-7.3
	GDP (SL Rs. bn.)			425.3	499.6	579.1	667.8	775.8	768.9	891.9

Sources: Data provided by the Ministry of Finance; and Fund staff estimates.

^{^1/}Includes external debt-financed military expenditure.

^{^2/}Asset sales are treated here as a component of financing. The authorities classify asset sales as negative net lendin

^{^3/}Before grants; including privatization proceeds; military expenditures on cash basis (i.e., excluding external debt-financed military expenditure).

Table 14.

Sri Lanka: Summary of Central Government Operations, 1992–97

				1992	1993	1994	1995 ^1/	1996 ^1/		1997
								Budget	Est.	Budget
				(In millions of Sri Lanka rupees)
Total revenue				85,781	98,339	110,047	136,258	147,982	146,279	170,736
	Tax			76,353	85,891	99,417	118,543	132,645	130,202	151,451
	Nontax			9,428	12,448	10,630	17,715	15,337	16,077	19,285
Total expenditure and net lending				119,823	141,660	170,759	203,482	229,485	219,438	240,570
	Current expenditure			91,388	103,753	130,818	157,350	174,573	174,493	184,422
	Capital expenditure			24,949	33,662	30,391	39,327	43,203	39,162	47,879
	Net lending ^2/			3,486	4,245	9,550	6,805	11,709	5,783	8,269
Overall deficit (before grants)				-34042	-43321	-60712	-67224	-81503	-73159	-69834
	Grants			8,280	8,025	8,257	9,028	9,000	8,500	10,208
	Net foreign borrowing			7,361	9,855	11,778	21,224	19,078	10,911	14,194
	Net domestic borrowing ^2/			18,401	25,441	40,677	36,972	53,425	53,748	45,432
		Of which:	Banking system	2,323	6,079	1,156	7,065	--	12,344	--
			Asset sales ^2/	2,850	1,200	2,996	3,001	21,000	4,728	5,000
				(In percent of GDP)
Total revenue				20.2	19.7	19.0	20.4	19.1	19.0	19.1
	Tax			18.0	17.2	17.2	17.8	17.1	16.9	17.0
	Nontax			2.2	2.5	1.8	2.7	2.0	2.1	2.2
Total expenditure and net lending				28.2	28.4	29.5	30.5	29.6	28.5	27.0
	Current expenditure			21.5	20.8	22.6	23.6	22.5	22.7	20.7
	Capital expenditure ^2/			5.9	6.7	5.2	5.9	5.6	5.1	5.4
	Net lending			0.8	0.8	1.6	1.0	1.5	0.8	0.9
Current account balance				-1.3	-1.1	-3.6	-3.2	-3.4	-3.7	-1.5
Overall deficit (before grants)				-8.0	-8.7	-10.5	-10.1	-10.5	-9.5	-7.8
	Grants			1.9	1.6	1.4	1.4	1.2	1.1	1.1
	Net foreign borrowing			1.7	2.0	2.0	3.2	2.5	1.4	1.6
	Net domestic borrowing			4.3	5.1	7.0	5.5	6.9	7.0	5.1
		Of which:	Banking system	-0.5	-1.2	0.2	1.1	--	1.6	0.0
			Assets ^2/	0.7	0.2	0.5	0.4	2.7	0.6	0.6
Memorandum items:
	Overall deficit (auth. definition) ^3/			-7.3	-8.4	-10.0	-9.6	-7.8	-8.9	-7.3
	GDP (SL Rs. bn.)			425.3	499.6	579.1	667.8	775.8	768.9	891.9

Sources: Data provided by the Ministry of Finance; and Fund staff estimates.

^{^1/}Includes external debt-financed military expenditure.

^{^2/}Asset sales are treated here as a component of financing. The authorities classify asset sales as negative net lendin

^{^3/}Before grants; including privatization proceeds; military expenditures on cash basis (i.e., excluding external debt-financed military expenditure).

Table 15.

Sri Lanka: Economic Classification of Expenditure, 1992–97

Sources: Data provided by the Ministry of Finance; and staff estimates.

^{^1/}Includes external debt-financed military expenditure.

Table 15.

Sri Lanka: Economic Classification of Expenditure, 1992–97

			1992	1993	1994	1995 ^1/	1996 ^1/		1997
							Budget	Est.	Budget
			(In millions of Sri Lanka rupees)
Current expenditure			89,638	102,288	127,079	154,159	174,680	171,501	177,980
Expenditure on goods and services			39,691	44,895	54,695	75,447	82,519	79,429	83,086
	Salaries and wages		20,793	26,332	29,304	34,909	39,978	38,332	44,603
	Other goods and services		18,898	18,563	25,391	40,538	42,541	41,097	38,483
Interest payments			25,940	30,203	38,031	38,225	44,057	46,021	49,850
	Foreign		4,739	5,102	5,511	6,162	7,351	6,739	8,388
	Domestic		21,201	25,101	32,520	32,063	36,706	39,282	41,462
Subsidies and current transfers			24,007	27,190	34,353	40,487	48,104	46,051	44,044
	To public corporations		1,428	1,571	2,634	7,841	6,308	8,232	2,239
	To public institutions		1,649	2,031	1,976	2,182	2,739	2,284	3,931
	To other levels of government		1,111	896	1,307	1,157	1,512	1,592	1,464
	To households		19,329	22,362	28,263	29,144	36,251	31,950	35,571
	To private institutions and abroad		490	330	173	163	1,294	1,993	839
Unallocated									1,000
Capital expenditure			24,949	33,662	30,391	41,722	43,204	41,277	47,879
Acquisition of capital assets			12,604	19,719	16,747	22,588	27,313	24,576	28,726
Capital transfers			12,345	13,943	13,644	19,134	15,891	16,701	19,153
	To public corporations		4,610	4,311	4,246	7,614	5,123	6,017	6,371
	To public institutions		6,663	8,551	8,433	10,446	12,119	9,603	11,532
	To other lack of government		1,028	1,036	914	1,057	1,000	1,042	1,200
	To abroad/other		44	45	51	17	49	39	50
Unallocated							-2400
Lending minus repayments			5,236	5,710	13,289	7,602	16,501	8,776	14,761
Of which:		Advance accounts	-150	410	2,462	-1,580	500	630	500
		On-lending	6,246	6,265	10,064	11,087	15,313	8,336	12,665
		Restructuring costs	1,750	1,465	3,739	3,192	4,792	2,992	6,492
		Repayments	-2,610	-2,430	-2,976	-5,097	-4,104	-3,182	-4,896
Total expenditure and net lending			119,823	141,660	170,759	203,483	234,385	221,554	240,620
			(In percent of GDP)
Current expenditure			21.1	20.5	21.9	23.1	22.5	223	20.0
Subsides and current transfers			5.6	5.4	5.9	6.1	6.2	6.0	4.9
Of which: To public corporations			0.3	0.3	0.5	1.2	0.8	1.1	0.3
Capital expenditure			5.9	6.7	5.2	6.2	5.6	5.4	5.4
Net lending			1.2	1.1	2.3	1.1	2.1	1.1	1.7
Total expenditure and net lending			28.2	28.4	29.5	30.5	30.2	28.8	27.0
			(In percent of total expenditure)
Current expenditure			74.8	72.2	74.4	75.8	74.5	77.4	74.0
Subsidies and current transfers			20.0	19.2	20.1	19.9	20.5	20.8	183
Of which: To public corporations			1.2	1.1	1.5	3.9	2.7	3.7	0.9
Capital expenditure			20.8	23.8	17.8	20.5	18.4	18.6	19.9
Net lending			4.4	4.0	7.8	3.7	7.0	4.0	6.1
Memorandum items:
	Military expenditure
	In millions of rupees		18,468	20,463	27,067	42,460	33,980	44,186	43,124
	In percent of GDP		4.3	4.1	4.7	6.4	4.4	5.7	4.8

Sources: Data provided by the Ministry of Finance; and staff estimates.

^{^1/}Includes external debt-financed military expenditure.

Table 15.

Sri Lanka: Economic Classification of Expenditure, 1992–97

			1992	1993	1994	1995 ^1/	1996 ^1/		1997
							Budget	Est.	Budget
			(In millions of Sri Lanka rupees)
Current expenditure			89,638	102,288	127,079	154,159	174,680	171,501	177,980
Expenditure on goods and services			39,691	44,895	54,695	75,447	82,519	79,429	83,086
	Salaries and wages		20,793	26,332	29,304	34,909	39,978	38,332	44,603
	Other goods and services		18,898	18,563	25,391	40,538	42,541	41,097	38,483
Interest payments			25,940	30,203	38,031	38,225	44,057	46,021	49,850
	Foreign		4,739	5,102	5,511	6,162	7,351	6,739	8,388
	Domestic		21,201	25,101	32,520	32,063	36,706	39,282	41,462
Subsidies and current transfers			24,007	27,190	34,353	40,487	48,104	46,051	44,044
	To public corporations		1,428	1,571	2,634	7,841	6,308	8,232	2,239
	To public institutions		1,649	2,031	1,976	2,182	2,739	2,284	3,931
	To other levels of government		1,111	896	1,307	1,157	1,512	1,592	1,464
	To households		19,329	22,362	28,263	29,144	36,251	31,950	35,571
	To private institutions and abroad		490	330	173	163	1,294	1,993	839
Unallocated									1,000
Capital expenditure			24,949	33,662	30,391	41,722	43,204	41,277	47,879
Acquisition of capital assets			12,604	19,719	16,747	22,588	27,313	24,576	28,726
Capital transfers			12,345	13,943	13,644	19,134	15,891	16,701	19,153
	To public corporations		4,610	4,311	4,246	7,614	5,123	6,017	6,371
	To public institutions		6,663	8,551	8,433	10,446	12,119	9,603	11,532
	To other lack of government		1,028	1,036	914	1,057	1,000	1,042	1,200
	To abroad/other		44	45	51	17	49	39	50
Unallocated							-2400
Lending minus repayments			5,236	5,710	13,289	7,602	16,501	8,776	14,761
Of which:		Advance accounts	-150	410	2,462	-1,580	500	630	500
		On-lending	6,246	6,265	10,064	11,087	15,313	8,336	12,665
		Restructuring costs	1,750	1,465	3,739	3,192	4,792	2,992	6,492
		Repayments	-2,610	-2,430	-2,976	-5,097	-4,104	-3,182	-4,896
Total expenditure and net lending			119,823	141,660	170,759	203,483	234,385	221,554	240,620
			(In percent of GDP)
Current expenditure			21.1	20.5	21.9	23.1	22.5	223	20.0
Subsides and current transfers			5.6	5.4	5.9	6.1	6.2	6.0	4.9
Of which: To public corporations			0.3	0.3	0.5	1.2	0.8	1.1	0.3
Capital expenditure			5.9	6.7	5.2	6.2	5.6	5.4	5.4
Net lending			1.2	1.1	2.3	1.1	2.1	1.1	1.7
Total expenditure and net lending			28.2	28.4	29.5	30.5	30.2	28.8	27.0
			(In percent of total expenditure)
Current expenditure			74.8	72.2	74.4	75.8	74.5	77.4	74.0
Subsidies and current transfers			20.0	19.2	20.1	19.9	20.5	20.8	183
Of which: To public corporations			1.2	1.1	1.5	3.9	2.7	3.7	0.9
Capital expenditure			20.8	23.8	17.8	20.5	18.4	18.6	19.9
Net lending			4.4	4.0	7.8	3.7	7.0	4.0	6.1
Memorandum items:
	Military expenditure
	In millions of rupees		18,468	20,463	27,067	42,460	33,980	44,186	43,124
	In percent of GDP		4.3	4.1	4.7	6.4	4.4	5.7	4.8

Sources: Data provided by the Ministry of Finance; and staff estimates.

^{^1/}Includes external debt-financed military expenditure.

Table 16.

Sri Lanka: Summary of Central Government Revenue by Component, 1992–97

Source: Data provided by the Ministry of Finance.

^{^1/}Includes “save the nation contribution” in 1996 budget.

Table 16.

Sri Lanka: Summary of Central Government Revenue by Component, 1992–97

					1992	1993	1994	1995	1996		1997
									Budget	Est.	Budget
					(In millions of Sri Lanka rupees)
Tax revenue					76,353	85,891	99,417	118,543	132,645	130,202	151,451
	Income tax				10,967	12,543	15,277	17,161	17,299	20,751	21,345
		Personal ^1/			4,067	5,235	5,621	7,358	5,537	7,440	8,225
		Corporate			6,900	7,308	9,656	9,803	11,762	13,311	13,120
	Stamp duty and taxes on property				3,597	3,493	4,386	5,162	5,839	5,279	6,788
	Tax on Central Bank holdings of treasury bills				1,991	1,073	471	1,050	0	1,604	350
	Taxes on goods and services				38,158	47,963	56,685	70,797	80,807	77,105	92,883
		Turnover tax			24,095	29,663	32,300	36,429	40,695	37,631	43,478
		Excises			10,232	11,655	14,632	19,436	21,775	22,067	28,936
			Of which:	Liquor	3,434	4,063	4,686	6,184	6,298	5,839	7,780
				Tobacco	5,573	6,866	7,888	8,788	11,195	12,833	15,175
		License fees			67	56	60	524	2,247	966	18,426
		National security levy			3,764	6,589	9,693	14,408	16,090	16,441	2,043
	Taxes on international trade				21,640	20,819	22,598	24,373	28,700	25,463	30,085
			Of which: Imports		20,819	20,762	22,598	24,365	28,700	25,463	30,085
	Nontax revenue				9,428	12,448	10,621	17,715	15,562	16,077	19,285
		Property income			6,262	8,154	7,360	12,856	10,082	10,059	12,046
		Fees and charges			1,225	1,303	988	1,751	2,650	2,827	3,066
		Other			1,941	2,991	2,273	3,108	2,830	3,191	4,173
	Total revenue				85,781	98,339	110,038	136,258	148,207	146,279	170,736
					(In percent of GDP)
	Tax revenue				18.0	17.2	172	17.8	17.1	16.9	17.0
		Income tax			2.6	2.5	2.6	2.6	2.2	2.7	2.4
		Taxes on property			0.8	0.7	0.8	0.8	0.8	0.7	0.8
		Taxes on goods and services			9.0	9.6	9.8	10.6	10.4	9.9	12.1
		Taxes on international trade			5.1	4.2	3.9	3.6	3.7	3.3	3.4
	Nontax revenue				2.2	2.5	1.8	2.7	2.0	2.1	2.2
	Total revenue				20.2	19.7	19.0	20.4	19.1	19.0	19.1

Source: Data provided by the Ministry of Finance.

^{^1/}Includes “save the nation contribution” in 1996 budget.

Table 16.

Sri Lanka: Summary of Central Government Revenue by Component, 1992–97

					1992	1993	1994	1995	1996		1997
									Budget	Est.	Budget
					(In millions of Sri Lanka rupees)
Tax revenue					76,353	85,891	99,417	118,543	132,645	130,202	151,451
	Income tax				10,967	12,543	15,277	17,161	17,299	20,751	21,345
		Personal ^1/			4,067	5,235	5,621	7,358	5,537	7,440	8,225
		Corporate			6,900	7,308	9,656	9,803	11,762	13,311	13,120
	Stamp duty and taxes on property				3,597	3,493	4,386	5,162	5,839	5,279	6,788
	Tax on Central Bank holdings of treasury bills				1,991	1,073	471	1,050	0	1,604	350
	Taxes on goods and services				38,158	47,963	56,685	70,797	80,807	77,105	92,883
		Turnover tax			24,095	29,663	32,300	36,429	40,695	37,631	43,478
		Excises			10,232	11,655	14,632	19,436	21,775	22,067	28,936
			Of which:	Liquor	3,434	4,063	4,686	6,184	6,298	5,839	7,780
				Tobacco	5,573	6,866	7,888	8,788	11,195	12,833	15,175
		License fees			67	56	60	524	2,247	966	18,426
		National security levy			3,764	6,589	9,693	14,408	16,090	16,441	2,043
	Taxes on international trade				21,640	20,819	22,598	24,373	28,700	25,463	30,085
			Of which: Imports		20,819	20,762	22,598	24,365	28,700	25,463	30,085
	Nontax revenue				9,428	12,448	10,621	17,715	15,562	16,077	19,285
		Property income			6,262	8,154	7,360	12,856	10,082	10,059	12,046
		Fees and charges			1,225	1,303	988	1,751	2,650	2,827	3,066
		Other			1,941	2,991	2,273	3,108	2,830	3,191	4,173
	Total revenue				85,781	98,339	110,038	136,258	148,207	146,279	170,736
					(In percent of GDP)
	Tax revenue				18.0	17.2	172	17.8	17.1	16.9	17.0
		Income tax			2.6	2.5	2.6	2.6	2.2	2.7	2.4
		Taxes on property			0.8	0.7	0.8	0.8	0.8	0.7	0.8
		Taxes on goods and services			9.0	9.6	9.8	10.6	10.4	9.9	12.1
		Taxes on international trade			5.1	4.2	3.9	3.6	3.7	3.3	3.4
	Nontax revenue				2.2	2.5	1.8	2.7	2.0	2.1	2.2
	Total revenue				20.2	19.7	19.0	20.4	19.1	19.0	19.1

Source: Data provided by the Ministry of Finance.

^{^1/}Includes “save the nation contribution” in 1996 budget.

Table 17.

Sri Lanka: Current and Capital Transfers to Public Corporations and Public Institutions, 1992–97

Source: Data provided by the Ministry of Finance.

^{^1/}The 1995 estimate includes Rs. 2,395 million transferred to the Shipping Corporation to clear the loan balance appearing in treasury books. An offsetting amount is included as repayment under net lending.

Table 17.

Sri Lanka: Current and Capital Transfers to Public Corporations and Public Institutions, 1992–97

	1992	1993	1994	1995	1996		1997
					Budget	Est.	Budget
	(In millions of Sri Lanka rupees)
Total	14,350	16,464	17,289	28,083	26,289	26,135	24,073
Public corporations	6,038	5,882	6,880	15,455	11,431	14,248	8,610
Public institutions	8,312	10,582	10,409	12,628	14,858	11,887	15,463
Current transfers	3,077	3,602	4,610	10,023	9,047	10,515	6,170
Public corporations	1,428	1,571	2,634	7,841	6,308	8,231	2,239
Public institutions	1,649	2,031	1,976	2,182	2,739	2,284	3,931
Capital transfers	11,273	12,862	12,679	18,060	17,242	15,620	17,903
Public corporations ^1/	4,610	4,311	4,246	7,614	5,123	6,017	6,371
Public institutions	6,663	8,551	8,433	10,446	12,119	9,603	11,532
Total transfers to selected corporations and institutions
Cooperative Wholesale Establishment	--	--	--	5,000	3,670	5,500	1,000
Shipping Corporation	--	--	--	2,395	--	--	--
Mahaweli Authority	2,670	2,810	2,598	3,090	2,133	1,940	1,655
Plantation Corporations	244	215	411	305	360	177	--
Ceylon Electricity Board	313	384	1,162	1,240	739	504	1,081
Transport Board	205	300	500	524	200	518	156
Housing Development Authority	289	246	162	495	520	223	695
Water Supply and Drainage Board	2,901	2,387	2,363	3,236	2,321	3,392	2,524
Road Development Authority	2,403	3,793	3,747	5,131	5,859	4,648	6,262
	(In percent of GDP)
Total transfers	3.4	3.3	3.0	4.2	3.4	3.4	2.7
Current	0.7	0.7	0.8	1.5	1.2	1.4	0.7
Capital	2.7	2.6	2.2	2.7	2.2	2.0	2.0
Public corporations	1.1	0.9	0.7	1.1	0.7	0.8	0.7
Public institutions	1.6	1.7	1.5	1.6	1.6	1.2	1.3
Total, excluding Mahaweli	2.7	2.7	2.5	3.7	3.1	3.1	2.5

Source: Data provided by the Ministry of Finance.

Table 17.

Sri Lanka: Current and Capital Transfers to Public Corporations and Public Institutions, 1992–97

	1992	1993	1994	1995	1996		1997
					Budget	Est.	Budget
	(In millions of Sri Lanka rupees)
Total	14,350	16,464	17,289	28,083	26,289	26,135	24,073
Public corporations	6,038	5,882	6,880	15,455	11,431	14,248	8,610
Public institutions	8,312	10,582	10,409	12,628	14,858	11,887	15,463
Current transfers	3,077	3,602	4,610	10,023	9,047	10,515	6,170
Public corporations	1,428	1,571	2,634	7,841	6,308	8,231	2,239
Public institutions	1,649	2,031	1,976	2,182	2,739	2,284	3,931
Capital transfers	11,273	12,862	12,679	18,060	17,242	15,620	17,903
Public corporations ^1/	4,610	4,311	4,246	7,614	5,123	6,017	6,371
Public institutions	6,663	8,551	8,433	10,446	12,119	9,603	11,532
Total transfers to selected corporations and institutions
Cooperative Wholesale Establishment	--	--	--	5,000	3,670	5,500	1,000
Shipping Corporation	--	--	--	2,395	--	--	--
Mahaweli Authority	2,670	2,810	2,598	3,090	2,133	1,940	1,655
Plantation Corporations	244	215	411	305	360	177	--
Ceylon Electricity Board	313	384	1,162	1,240	739	504	1,081
Transport Board	205	300	500	524	200	518	156
Housing Development Authority	289	246	162	495	520	223	695
Water Supply and Drainage Board	2,901	2,387	2,363	3,236	2,321	3,392	2,524
Road Development Authority	2,403	3,793	3,747	5,131	5,859	4,648	6,262
	(In percent of GDP)
Total transfers	3.4	3.3	3.0	4.2	3.4	3.4	2.7
Current	0.7	0.7	0.8	1.5	1.2	1.4	0.7
Capital	2.7	2.6	2.2	2.7	2.2	2.0	2.0
Public corporations	1.1	0.9	0.7	1.1	0.7	0.8	0.7
Public institutions	1.6	1.7	1.5	1.6	1.6	1.2	1.3
Total, excluding Mahaweli	2.7	2.7	2.5	3.7	3.1	3.1	2.5

Source: Data provided by the Ministry of Finance.

Table 18.

Sri Lanka: Transfer and Subsidy Payments to Households, 1992–97

Source: Data provided by the Ministry of Finance.

^{^1/}National Savings Bank.

Table 18.

Sri Lanka: Transfer and Subsidy Payments to Households, 1992–97

			1992	1993	1994	1995	1996		1997
							Budget	Est.	Budget
			(In millions of Sri Lanka rupees)
Total			19,329	22,362	28,263	29,144	36,251	31,950	35,571
	Of which: Excluding pensions		11,230	11,846	14,992	14,595	19,426	16,485	17,496
	Food subsidy and food stamps		2,567	2,575	2,454	1,396	831	446	125
		Infant milk	107	125	125	34	70	52	125
		Food stamps	2,460	2,450	2,329	1,362	761	394	--
	Pensions and other
		Pensions	8,099	10,516	13,271	14,549	16,825	15,465	18,075
		Kerosene stamps	511	450	580	437	228	112	--
		NSB interest subsidy ^1/	123	130	60	--	--	--	--
		Fertilizer subsidy	--	--	630	1,345	1,500	1,500	1,500
		Samurdhi	--	--	--	2,793	8,703	7,340	9,792
		Department of Welfare payments	347	268	600	237	240	237	1,503
		Free textbooks	472	275	400	409	525	523	700
		Midday meal	1,899	1,700	1,240	1,778	--	--	--
		Jana Saviya/school uniform	3,098	5,150	4,956	3,423	3,091	2,418	1,100
		Other	2,214	1,298	4,072	2,777	4,308	3,909	2,776
			(In percent of GDP)
Total			4.5	4.5	4.9	4.4	4.7	4.2	4.0
Pensions			1.9	2.1	2.3	2.2	2.2	2.0	2.0
Other transfers and subsidies			2.6	2.4	2.6	2.2	2.5	2.1	2.0

Source: Data provided by the Ministry of Finance.

^{^1/}National Savings Bank.

Table 18.

Sri Lanka: Transfer and Subsidy Payments to Households, 1992–97

			1992	1993	1994	1995	1996		1997
							Budget	Est.	Budget
			(In millions of Sri Lanka rupees)
Total			19,329	22,362	28,263	29,144	36,251	31,950	35,571
	Of which: Excluding pensions		11,230	11,846	14,992	14,595	19,426	16,485	17,496
	Food subsidy and food stamps		2,567	2,575	2,454	1,396	831	446	125
		Infant milk	107	125	125	34	70	52	125
		Food stamps	2,460	2,450	2,329	1,362	761	394	--
	Pensions and other
		Pensions	8,099	10,516	13,271	14,549	16,825	15,465	18,075
		Kerosene stamps	511	450	580	437	228	112	--
		NSB interest subsidy ^1/	123	130	60	--	--	--	--
		Fertilizer subsidy	--	--	630	1,345	1,500	1,500	1,500
		Samurdhi	--	--	--	2,793	8,703	7,340	9,792
		Department of Welfare payments	347	268	600	237	240	237	1,503
		Free textbooks	472	275	400	409	525	523	700
		Midday meal	1,899	1,700	1,240	1,778	--	--	--
		Jana Saviya/school uniform	3,098	5,150	4,956	3,423	3,091	2,418	1,100
		Other	2,214	1,298	4,072	2,777	4,308	3,909	2,776
			(In percent of GDP)
Total			4.5	4.5	4.9	4.4	4.7	4.2	4.0
Pensions			1.9	2.1	2.3	2.2	2.2	2.0	2.0
Other transfers and subsidies			2.6	2.4	2.6	2.2	2.5	2.1	2.0

Source: Data provided by the Ministry of Finance.

^{^1/}National Savings Bank.

Table 19.

Sri Lanka: Sri Lanka: Deficit Financing (Economic Classification), 1992–97

(In millions of Sri Lanka rupees)

Sources: Data provided by the Ministry of Finance; and Fund staff estimates.

^{^1/}Includes external debt-financed military expenditure.

Table 19.

Sri Lanka: Sri Lanka: Deficit Financing (Economic Classification), 1992–97

(In millions of Sri Lanka rupees)

		1992	1993	1994	1995 ^1/	1996 ^1/		1997
						Budget	Est.	Budget
Total financing		34,042	43,321	60,727	67,225	81,279	73,159	69,834
Foreign grants		8,280	8,025	8,257	9,028	9,000	8,500	10,208
Net foreign borrowing		7,361	9,855	11,778	21,224	19,078	10,911	14,194
	Gross foreign borrowing	15,316	16,876	19,384	29,702	28,160	21,402	27,676
	Repayments	-7,955	-7,021	-7,606	-8,478	-9,082	-10,491	-13,482
Net foreign borrowing by type		7,361	9,855	11,778	21,224	19,078	10,911	14,194
Net project loans		7,435	6,483	13,197	14,216	--	14,170	--
	Gross project loans	11,543	11,272	18,244	19,768	--	20,151	--
	Repayments	-4,108	-4,789	-5,047	-5,552	--	-5,981	--
Net commodity loans		-1,069	-1,328	-1,737	-1,251	--	-2,108	--
	Gross commodity loans	859	815	619	1,530	--	632	--
	Repayments	-1,928	-2,143	-2,356	-2,781	--	-2,740	--
Net other loans		995	4,700	318	8,259	--	-1,151	--
	Gross loans	2,914	4,789	521	8,404	--	619	--
	Repayments	-1,919	-89	-203	-145	--	-1,770	--
Net domestic financing		18,401	25,441	40,692	36,973	53,201	53,748	45,432
Nonbank borrowing		20,724	31,520	39,535	29,908	53,201	41,404	45,432
	Nonmarket	-3,205	2,012	-666	548	--	7,648	--
	Market	21,079	28,308	37,205	26,359	32,201	26,313	40,432
	Asset sales	2,850	1,200	2,996	3,001	21,000	4,728	5,000
Bank financing		-2,323	-6,079	1,157	7,065	--	12,344	--
	Central Bank	-1,896	-13,664	1,762	7,662	--	9,873	--
	Commercial bank	-427	7,585	-605	-597	--	2,471	--
Increase(+)/Decrease in Arrears							2,715

Sources: Data provided by the Ministry of Finance; and Fund staff estimates.

^{^1/}Includes external debt-financed military expenditure.

Table 19.

Sri Lanka: Sri Lanka: Deficit Financing (Economic Classification), 1992–97

(In millions of Sri Lanka rupees)

		1992	1993	1994	1995 ^1/	1996 ^1/		1997
						Budget	Est.	Budget
Total financing		34,042	43,321	60,727	67,225	81,279	73,159	69,834
Foreign grants		8,280	8,025	8,257	9,028	9,000	8,500	10,208
Net foreign borrowing		7,361	9,855	11,778	21,224	19,078	10,911	14,194
	Gross foreign borrowing	15,316	16,876	19,384	29,702	28,160	21,402	27,676
	Repayments	-7,955	-7,021	-7,606	-8,478	-9,082	-10,491	-13,482
Net foreign borrowing by type		7,361	9,855	11,778	21,224	19,078	10,911	14,194
Net project loans		7,435	6,483	13,197	14,216	--	14,170	--
	Gross project loans	11,543	11,272	18,244	19,768	--	20,151	--
	Repayments	-4,108	-4,789	-5,047	-5,552	--	-5,981	--
Net commodity loans		-1,069	-1,328	-1,737	-1,251	--	-2,108	--
	Gross commodity loans	859	815	619	1,530	--	632	--
	Repayments	-1,928	-2,143	-2,356	-2,781	--	-2,740	--
Net other loans		995	4,700	318	8,259	--	-1,151	--
	Gross loans	2,914	4,789	521	8,404	--	619	--
	Repayments	-1,919	-89	-203	-145	--	-1,770	--
Net domestic financing		18,401	25,441	40,692	36,973	53,201	53,748	45,432
Nonbank borrowing		20,724	31,520	39,535	29,908	53,201	41,404	45,432
	Nonmarket	-3,205	2,012	-666	548	--	7,648	--
	Market	21,079	28,308	37,205	26,359	32,201	26,313	40,432
	Asset sales	2,850	1,200	2,996	3,001	21,000	4,728	5,000
Bank financing		-2,323	-6,079	1,157	7,065	--	12,344	--
	Central Bank	-1,896	-13,664	1,762	7,662	--	9,873	--
	Commercial bank	-427	7,585	-605	-597	--	2,471	--
Increase(+)/Decrease in Arrears							2,715

Sources: Data provided by the Ministry of Finance; and Fund staff estimates.

^{^1/}Includes external debt-financed military expenditure.

Table 20.

Sri Lanka: Outstanding Central Government Debt, 1991–96

(In millions of Sri Lanka rupees, end of period)

Source: Data provided by the Ministry of Finance.

^{^1/}Including external debt-financed military expenditure; preliminary estimates for 1996.

Table 20.

Sri Lanka: Outstanding Central Government Debt, 1991–96

(In millions of Sri Lanka rupees, end of period)

				1991	1992	1993	1994	1995 ^1/	1996 ^1/
Total domestic debt				152,118	170,020	213,685	249,118	285,759	349,007
	Rupee securities			66,824	69,180	105,707	137,554	157,928	205,975
	Treasury bills			72,968	87,096	97,196	98,896	113,771	124,996
	National defense bonds			4,532	4,532	--	--	--	--
	Treasury CDs			153	102	114	145	200	212
	Other			7,641	9,110	10,688	12,524	13,860	17,824
Banking system
	Central Bank			42,487	34,932	16,480	21,345	28,684	37,673
		Rupee loans		11	6	--	--	--	--
		Treasury bills		35,032	25,998	5,978	8,979	14,984	19,980
		Advances		7,444	8,928	10,502	12,366	13,700	17,693
	Commercial banks
		By debt instrument		9,659	23,179	73,654	78,698	84,671	119,022
			Rupee loans	414	413	24,088	24,840	24,928	44,321
			Treasury bills	9,239	22,760	49,566	53,858	59,742	74,701
			Other	6	6	--	1	1	--
		By institution		9,659	23,178	73,654	78,698	84,671	119,022
			Bank of Ceylon	6,791	15,753	40,333	39,469	42,298	59,732
			People’s Bank	2,182	2,938	15,690	18,363	17,802	25,754
			Other	686	4,487	17,630	20,867	24,571	33,537
	Sinking Fund			840	359	239	137	100	100
		Rupee loan		840	359	239	137	100	100
	Nonbank sector
		By debt instrument		99,132	111,550	123,311	148,939	172,304	192,212
			Rupee loans	65,559	68,402	81,379	112,577	132,900	161,554
			Treasury bills	28,697	38,338	41,652	36,059	39,044	30,315
			National defense bands	4,527	4,527	--	--	--	--
			Treasury certificates	153	102	114	145	200	212
			Other	196	181	166	158	160	131
		By institution		99,132	111,550	123,311	148,939	172,304	192,212
			National Savings Bank	26,558	30,782	37,767	46,407	48,406	50,652
			Other savings institutions	13,031	14,980	13,165	15,813	19,349	18,793
			Employees’ Provident Fund	45,862	54,563	65,645	79,745	95,000	110,431
			Insurance companies	4,074	4,035	244	312	303	158
			Other	9,609	7,191	6,490	6,662	8,723	12,178
Total foreign debt				214,579	235,538	270,224	301,812	346,286	359,852
	Project loans			166,149	185,003	216,355	246,075	286,848	302,470
	Nonproject loans			48,430	50,536	53,869	55,737	59,438	57,382
		Commodity loans		46,037	48,550	52,120	54,147	57,730	55,238
		Other		2,393	1,986	1,749	1,590	1,708	2,144
	Concessional loans			202,555	225,132	260,557	292,463	335,656	348,898
		Multilateral		78,084	91,067	109,284	123,016	144,593	160,400
		Bilateral		124,471	134,065	151,273	169,447	191,063	188,498
	Commercial loans			12,024	10,406	9,667	9,350	10,630	10,954
	External suppliers’ credits			1,260	1,094	1,065	950	1,020	923
	Total outstanding debt			366,697	405,559	483,909	550,930	632,045	708,859

Source: Data provided by the Ministry of Finance.

^{^1/}Including external debt-financed military expenditure; preliminary estimates for 1996.

Table 20.

Sri Lanka: Outstanding Central Government Debt, 1991–96

(In millions of Sri Lanka rupees, end of period)

				1991	1992	1993	1994	1995 ^1/	1996 ^1/
Total domestic debt				152,118	170,020	213,685	249,118	285,759	349,007
	Rupee securities			66,824	69,180	105,707	137,554	157,928	205,975
	Treasury bills			72,968	87,096	97,196	98,896	113,771	124,996
	National defense bonds			4,532	4,532	--	--	--	--
	Treasury CDs			153	102	114	145	200	212
	Other			7,641	9,110	10,688	12,524	13,860	17,824
Banking system
	Central Bank			42,487	34,932	16,480	21,345	28,684	37,673
		Rupee loans		11	6	--	--	--	--
		Treasury bills		35,032	25,998	5,978	8,979	14,984	19,980
		Advances		7,444	8,928	10,502	12,366	13,700	17,693
	Commercial banks
		By debt instrument		9,659	23,179	73,654	78,698	84,671	119,022
			Rupee loans	414	413	24,088	24,840	24,928	44,321
			Treasury bills	9,239	22,760	49,566	53,858	59,742	74,701
			Other	6	6	--	1	1	--
		By institution		9,659	23,178	73,654	78,698	84,671	119,022
			Bank of Ceylon	6,791	15,753	40,333	39,469	42,298	59,732
			People’s Bank	2,182	2,938	15,690	18,363	17,802	25,754
			Other	686	4,487	17,630	20,867	24,571	33,537
	Sinking Fund			840	359	239	137	100	100
		Rupee loan		840	359	239	137	100	100
	Nonbank sector
		By debt instrument		99,132	111,550	123,311	148,939	172,304	192,212
			Rupee loans	65,559	68,402	81,379	112,577	132,900	161,554
			Treasury bills	28,697	38,338	41,652	36,059	39,044	30,315
			National defense bands	4,527	4,527	--	--	--	--
			Treasury certificates	153	102	114	145	200	212
			Other	196	181	166	158	160	131
		By institution		99,132	111,550	123,311	148,939	172,304	192,212
			National Savings Bank	26,558	30,782	37,767	46,407	48,406	50,652
			Other savings institutions	13,031	14,980	13,165	15,813	19,349	18,793
			Employees’ Provident Fund	45,862	54,563	65,645	79,745	95,000	110,431
			Insurance companies	4,074	4,035	244	312	303	158
			Other	9,609	7,191	6,490	6,662	8,723	12,178
Total foreign debt				214,579	235,538	270,224	301,812	346,286	359,852
	Project loans			166,149	185,003	216,355	246,075	286,848	302,470
	Nonproject loans			48,430	50,536	53,869	55,737	59,438	57,382
		Commodity loans		46,037	48,550	52,120	54,147	57,730	55,238
		Other		2,393	1,986	1,749	1,590	1,708	2,144
	Concessional loans			202,555	225,132	260,557	292,463	335,656	348,898
		Multilateral		78,084	91,067	109,284	123,016	144,593	160,400
		Bilateral		124,471	134,065	151,273	169,447	191,063	188,498
	Commercial loans			12,024	10,406	9,667	9,350	10,630	10,954
	External suppliers’ credits			1,260	1,094	1,065	950	1,020	923
	Total outstanding debt			366,697	405,559	483,909	550,930	632,045	708,859

Source: Data provided by the Ministry of Finance.

^{^1/}Including external debt-financed military expenditure; preliminary estimates for 1996.

Table 21.

Sri Lanka: Balance Sheet of the Monetary Authorities, 1992–97

Source: Central Bank of Sri Lanka.

Table 21.

Sri Lanka: Balance Sheet of the Monetary Authorities, 1992–97

				1992	1993	1994	1995	1996				1997
								Mar.	Jun.	Sep.	Dec.	Mar.
				(In millions of Sri Lankan rupees; end of period)
Net foreign assets				18,730	52,980	65,865	74,301	81,369	72,686	74,417	73,786	70,207
Central Bank (net)				17,905	49,055	61,495	67,340	74,408	65,691	67,353	66,719	63,140
	Assets			40,388	80,024	98,449	108,937	114,235	107,156	106,679	106,913	100,369
		Cash and balances abroad		10,229	17,603	12,618	39,682	28,984	22,348	32,500	35,079	24,389
		Foreign securities		29,431	58,274	82,648	65,916	81,671	81,336	69,627	67,896	73,126
	Liabilities			22,483	30,969	36,954	41,597	39,827	41,465	39,326	40,194	37,229
Government (net)				5	7	21	9	9	9	2	5	5
Treasury IMF account (net)				820	3,918	4,349	6,952	6,952	6,986	7,062	7,062	7,062
Net domestic assets				26,128	3,488	2,190	4,286	1,544	7,148	7,197	11,723	1,621
Net claims on government				28,658	14,996	16,756	24,418	20,037	27,260	29,202	34,291	22,035
		Claims on government		31,324	16,797	19,568	27,458	23,953	31,490	34,525	37,801	25,758
			Advances	9,515	11,089	12,952	14,287	18,259	18,046	17,891	18,282	18,369
			Treasury bills	21,802	3,954	5,099	12,525	5,344	13,212	15,451	17,100	6,013
			Cash items collection	7	1,754	1,517	646	350	232	1,183	2,419	1,376
		Government deposits		-2,666	-1,801	-2,812	-3,040	-3,916	-4,230	-5,323	-3,510	-3,723
	Claims on commercial banks			5,762	4,904	3,376	2,811	2,811	2,767	2,726	2,259	2,274
		Medium and long-term		4,839	4,151	3,304	2,750	2,750	2,707	2,674	2,207	7,772
		Short-term		923	753	72	61	61	60	52	52	52
	Other assets (net)			-8,292	-16,412	-17,942	-22,943	-21,304	-22,879	-24,731	-24,827	-22,688
	Reserve money			44,858	56,468	68,055	78,587	82,913	79,834	81,614	85,509	71,828
	Currency in circulation			30,496	35,949	43,081	46,685	49,707	47,732	48,135	49,480	50,534
	Commercial banks deposits			14,326	20,466	24,832	31,853	33,174	31,965	33,992	35,907	21,264
	Deposits of government agencies			36	53	142	49	32	137	87	122	30
				(In annual percent change)
	Net foreign assets			90.4	182.9	24.3	12.8	18.3	6.2	7.0	-0.7	-13.7
	Net domestic assets			-13.5	-86.7	-37.2	95.7	7.0	248.3	146.5	173.5	5.0
		Net claims on government		-6.2	-47.7	11.7	45.7	38.0	62.0	48.5	40.4	10.0
		Claims on commercial banks		7.8	-14.9	-31.2	-16.7	-15.0	-14.5	-14.9	-19.6	-19.1
			Medium- and long-term	22.5	-14.2	-20.4	-16.8	-15.0	-14.7	-14.9	-19.7	-19.2
			Short-term	-33.8	-18.4	-90.4	-15.3	-14.1	-6.3	-16.1	-14.8	-14.8
	Reserve money			12.0	25.9	20.5	15.5	18.1	13.3	12.7	8.8	-13.4
				(Contributions to Reserve Money as percent of outstanding balance 12 months ago)
	Net foreign assets			22.2	76.4	22.8	12.4	17.9	6.0	6.8	-0.7	-13.5
	Net domestic assets			-10.2	-50.5	-2.3	3.1	0.1	7.2	5.9	9.5	0.1
	Net claims on government			-4.7	-30.5	3.1	11.3	7.9	14.8	13.2	12.6	2.4
	Claims on commercial banks			1.0	-1.9	-2.7	-0.8	-0.7	-0.7	-0.7	-0.7	-0.6
	Other assets (net)			-6.5	-18.1	-2.7	-7.3	-7.0	-6.9	-6.6	-2.4	-1.7

Source: Central Bank of Sri Lanka.

Table 21.

Sri Lanka: Balance Sheet of the Monetary Authorities, 1992–97

				1992	1993	1994	1995	1996				1997
								Mar.	Jun.	Sep.	Dec.	Mar.
				(In millions of Sri Lankan rupees; end of period)
Net foreign assets				18,730	52,980	65,865	74,301	81,369	72,686	74,417	73,786	70,207
Central Bank (net)				17,905	49,055	61,495	67,340	74,408	65,691	67,353	66,719	63,140
	Assets			40,388	80,024	98,449	108,937	114,235	107,156	106,679	106,913	100,369
		Cash and balances abroad		10,229	17,603	12,618	39,682	28,984	22,348	32,500	35,079	24,389
		Foreign securities		29,431	58,274	82,648	65,916	81,671	81,336	69,627	67,896	73,126
	Liabilities			22,483	30,969	36,954	41,597	39,827	41,465	39,326	40,194	37,229
Government (net)				5	7	21	9	9	9	2	5	5
Treasury IMF account (net)				820	3,918	4,349	6,952	6,952	6,986	7,062	7,062	7,062
Net domestic assets				26,128	3,488	2,190	4,286	1,544	7,148	7,197	11,723	1,621
Net claims on government				28,658	14,996	16,756	24,418	20,037	27,260	29,202	34,291	22,035
		Claims on government		31,324	16,797	19,568	27,458	23,953	31,490	34,525	37,801	25,758
			Advances	9,515	11,089	12,952	14,287	18,259	18,046	17,891	18,282	18,369
			Treasury bills	21,802	3,954	5,099	12,525	5,344	13,212	15,451	17,100	6,013
			Cash items collection	7	1,754	1,517	646	350	232	1,183	2,419	1,376
		Government deposits		-2,666	-1,801	-2,812	-3,040	-3,916	-4,230	-5,323	-3,510	-3,723
	Claims on commercial banks			5,762	4,904	3,376	2,811	2,811	2,767	2,726	2,259	2,274
		Medium and long-term		4,839	4,151	3,304	2,750	2,750	2,707	2,674	2,207	7,772
		Short-term		923	753	72	61	61	60	52	52	52
	Other assets (net)			-8,292	-16,412	-17,942	-22,943	-21,304	-22,879	-24,731	-24,827	-22,688
	Reserve money			44,858	56,468	68,055	78,587	82,913	79,834	81,614	85,509	71,828
	Currency in circulation			30,496	35,949	43,081	46,685	49,707	47,732	48,135	49,480	50,534
	Commercial banks deposits			14,326	20,466	24,832	31,853	33,174	31,965	33,992	35,907	21,264
	Deposits of government agencies			36	53	142	49	32	137	87	122	30
				(In annual percent change)
	Net foreign assets			90.4	182.9	24.3	12.8	18.3	6.2	7.0	-0.7	-13.7
	Net domestic assets			-13.5	-86.7	-37.2	95.7	7.0	248.3	146.5	173.5	5.0
		Net claims on government		-6.2	-47.7	11.7	45.7	38.0	62.0	48.5	40.4	10.0
		Claims on commercial banks		7.8	-14.9	-31.2	-16.7	-15.0	-14.5	-14.9	-19.6	-19.1
			Medium- and long-term	22.5	-14.2	-20.4	-16.8	-15.0	-14.7	-14.9	-19.7	-19.2
			Short-term	-33.8	-18.4	-90.4	-15.3	-14.1	-6.3	-16.1	-14.8	-14.8
	Reserve money			12.0	25.9	20.5	15.5	18.1	13.3	12.7	8.8	-13.4
				(Contributions to Reserve Money as percent of outstanding balance 12 months ago)
	Net foreign assets			22.2	76.4	22.8	12.4	17.9	6.0	6.8	-0.7	-13.5
	Net domestic assets			-10.2	-50.5	-2.3	3.1	0.1	7.2	5.9	9.5	0.1
	Net claims on government			-4.7	-30.5	3.1	11.3	7.9	14.8	13.2	12.6	2.4
	Claims on commercial banks			1.0	-1.9	-2.7	-0.8	-0.7	-0.7	-0.7	-0.7	-0.6
	Other assets (net)			-6.5	-18.1	-2.7	-7.3	-7.0	-6.9	-6.6	-2.4	-1.7

Source: Central Bank of Sri Lanka.

Table 22.

Sri Lanka: Balance Sheet of Commercial Banks, 1992–97

Source: Central Bank of Sri Lanka.

^{^1/}A Foreign Currency Banking Unit (FCBU) is a unit in a commercial banks which accepts deposits and grants advances in foreign currency from and to non-residents; commercial banks; Board of Investment (BOI) enterprises; and other approved residents.

^{^2/}Include Non-Resident Foreign Currency accounts, Resident Non-National Foreign Currency Accounts, and (approved) Resident Foreign Currency

Table 22.

Sri Lanka: Balance Sheet of Commercial Banks, 1992–97

			1992	1993	1994	1995	1996				1997
							Mar.	Jun.	Sep.	Dec.	Mar.
			(In millions of Sri Lankan rupees; end of period)
Foreign assets			23,162	22,257	29,349	27,447	24,788	31,554	29,990	28,549	32,940
	Banks abroad		6,921	6,454	10,081	8,211	7,962	11,307	9,092	8,736	10,044
	FCBUs ^1/		10,874	10,390	13,735	13,107	10,710	14,378	14,415	12,935	15,690
	Other		5,367	5,413	5,533	6,129	6,116	5,869	6,483	6,878	7,206
Cash and deposits			18,425	26,653	31,917	41,498	39,038	40,534	43,773	48,242	34,809
	Cash in till		3,205	3,816	4,175	4,486	4,641	5,022	5,939	6,915	6,354
	Deposits with CBSL		13,084	20,057	23,783	30,963	29,369	30,335	32,908	34,273	19,906
	Due from other banks		2,136	2,780	3,959	6,049	5,028	5,177	4,926	7,054	8,549
Claims on goverment			13,487	18,301	20,682	20,280	28,601	23,480	24,815	26,169	39,190
	Treasury bills		10,653	14,274	15,143	11,552	19,243	16,436	14,633	15,530	26,308
	Other government securities		1,035	806	1,347	753	759	840	840	840	840
	Other		1,799	3,221	4,192	7,975	8,599	6,204	9,342	9,799	11,956
Claims on public corp.			14,750	7,775	5,163	8,527	7,346	8,423	10,190	9,938	10,403
Claims on private sector			96,188	115,929	140,484	180,057	188,733	194,497	203,731	194,821	200,678
Other assets			18,438	52,991	53,472	57,705	63,309	58,001	60,645	82,078	84,475
Assets = Liabilities			184,450	243,906	281,067	335,514	351,815	356,489	373,144	389,797	402,494
Foreign liabilities			20,952	27,118	30,746	35,216	36,277	37,923	41,824	40,474	44,539
		Banks abroad	2,032	2,554	2,498	3,044	3,985	3,938	5,628	2,936	5,427
		FCBUs ^1/
		NRFC, RNNFC, and RFC ^2/	18,016	23,338	26,940	30,976	30,639	32,012	34,208	35,931	37,989
		Other	904	1,226	1,318	1,196	1,653	1,973	1,988	1,607	1,123
Demand deposits			22,741	27,169	31,415	32,970	36,698	33,109	34,351	35,516	36,618
Time and savings deposits			79,741	100,780	121,210	153,319	157,382	164,451	165,065	174,998	179,829
Government deposits			9,075	6,304	9,290	9,484	8,744	8,588	11,043	12,902	10,527
		Demand	8,482	5,771	8,374	8,232	6,864	6,773	9,305	10,869	7,936
		Time and savings	593	533	916	1,252	1,879	1,815	1,738	2,033	2,591
Due to CBSL			5,603	5,843	4,053	3,625	3,624	3,934	3,867	4,050	4,377
Due to banks			2,102	3,154	6,015	9,865	12,979	14,660	15,800	21,033	21,083
Due to CFIs			136	209	553	797	805	1,315	862	1,130	928
Capital			9,868	21,851	28,278	33,460	35,561	36,337	35,307	39,238	41,056
Other liabilities			34,232	51,475	49,507	56,778	59,745	56,172	65,025	60,457	63,537
			(In percent of total assets and liabilities)
Foreign assets			12.6	9.1	10.4	8.2	7.0	8.9	8.0	7.3	8.2
	Banks abroad		3.8	2.6	3.6	2.4	2.3	3.2	2.4	2.2	2.5
	FCBUs ^1/		5.9	4.3	4.9	3.9	3.0	4.0	3.9	3.3	3.9
	Other		2.9	2.2	2.0	1.8	1.7	1.6	1.7	1.8	1.8
Cash and deposits			10.0	10.9	11.4	12.4	11.1	11.4	11.7	12.4	8.6
	Cash in till		1.7	1.6	1.5	1.3	1.3	1.4	1.6	1.8	1.6
	Deposits with CBSL		7.1	8.2	8.5	9.2	8.3	8.5	8.8	8.8	4.9
	Due from other banks		1.2	1.1	1.4	1.8	1.4	1.5	1.3	1.8	2.1
Claims on government			7.3	7.5	7.4	6.0	8.1	6.6	6.7	6.7	9.7
	Treasury bills		5.8	5.9	5.4	3.4	5.5	4.6	3.9	4.0	6.5
	Other government securities		0.6	0.3	0.5	0.2	0.2	0.2	0.2	0.2	0.2
	Other		1.0	1.3	1.5	2.4	2.4	1.7	2.5	2.5	3.0
Claims on public corp.			8.0	3.2	1.8	2.5	2.1	2.4	2.7	2.5	2.6
Claims on private sector			52.1	47.5	50.0	53.7	53.6	54.6	54.6	50.0	49.9
Other assets			10.0	21.7	19.0	17.2	18.0	16.3	16.3	21.1	21.0
Foreign liabilities			11.4	11.1	10.9	10.5	10.3	10.6	11.2	10.4	11.1
		Banks abroad	1.1	1.0	0.9	0.9	1.1	1.1	1.5	0.8	1.3
		FCBUs ^1/	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
		NRFC, RNNFC, and RFC ^2/	9.8	9.6	9.6	9.2	8.7	9.0	9.2	9.2	9.4
		Other	0.5	0.5	0.5	0.4	0.5	0.6	0.5	0.4	0.3
Demand deposits			12.3	11.1	11.2	9.8	10.4	9.3	9.2	9.1	9.1
Time and savings deposits			43.2	41.3	43.1	45.7	44.7	46.1	44.2	44.9	44.7
Government deposits			4.9	2.6	3.3	2.8	2.5	2.4	3.0	3.3	2.6
		Demand	4.6	2.4	3.0	2.5	2.0	1.9	2.5	2.8	2.0
		Time and savings	0.3	0.2	0.3	0.4	0.5	0.5	0.5	0.5	0.6
Due to CBSL			3.0	2.4	1.4	1.1	1.0	1.1	1.0	1.0	1.1
Due to banks			1.1	1.3	2.1	2.9	3.7	4.1	4.2	5.4	5.2
Due to OFIs			0.1	0.1	0.2	0.2	0.2	0.4	0.2	0.3	0.2
Capital			5.3	9.0	10.1	10.0	10.1	10.2	9.5	10.1	10.2
Other liabilities			18.6	21.1	17.6	16.9	17.0	15.8	17.4	15.5	15.8

Source: Central Bank of Sri Lanka.

^{^2/}Include Non-Resident Foreign Currency accounts, Resident Non-National Foreign Currency Accounts, and (approved) Resident Foreign Currency

Table 22.

Sri Lanka: Balance Sheet of Commercial Banks, 1992–97

			1992	1993	1994	1995	1996				1997
							Mar.	Jun.	Sep.	Dec.	Mar.
			(In millions of Sri Lankan rupees; end of period)
Foreign assets			23,162	22,257	29,349	27,447	24,788	31,554	29,990	28,549	32,940
	Banks abroad		6,921	6,454	10,081	8,211	7,962	11,307	9,092	8,736	10,044
	FCBUs ^1/		10,874	10,390	13,735	13,107	10,710	14,378	14,415	12,935	15,690
	Other		5,367	5,413	5,533	6,129	6,116	5,869	6,483	6,878	7,206
Cash and deposits			18,425	26,653	31,917	41,498	39,038	40,534	43,773	48,242	34,809
	Cash in till		3,205	3,816	4,175	4,486	4,641	5,022	5,939	6,915	6,354
	Deposits with CBSL		13,084	20,057	23,783	30,963	29,369	30,335	32,908	34,273	19,906
	Due from other banks		2,136	2,780	3,959	6,049	5,028	5,177	4,926	7,054	8,549
Claims on goverment			13,487	18,301	20,682	20,280	28,601	23,480	24,815	26,169	39,190
	Treasury bills		10,653	14,274	15,143	11,552	19,243	16,436	14,633	15,530	26,308
	Other government securities		1,035	806	1,347	753	759	840	840	840	840
	Other		1,799	3,221	4,192	7,975	8,599	6,204	9,342	9,799	11,956
Claims on public corp.			14,750	7,775	5,163	8,527	7,346	8,423	10,190	9,938	10,403
Claims on private sector			96,188	115,929	140,484	180,057	188,733	194,497	203,731	194,821	200,678
Other assets			18,438	52,991	53,472	57,705	63,309	58,001	60,645	82,078	84,475
Assets = Liabilities			184,450	243,906	281,067	335,514	351,815	356,489	373,144	389,797	402,494
Foreign liabilities			20,952	27,118	30,746	35,216	36,277	37,923	41,824	40,474	44,539
		Banks abroad	2,032	2,554	2,498	3,044	3,985	3,938	5,628	2,936	5,427
		FCBUs ^1/
		NRFC, RNNFC, and RFC ^2/	18,016	23,338	26,940	30,976	30,639	32,012	34,208	35,931	37,989
		Other	904	1,226	1,318	1,196	1,653	1,973	1,988	1,607	1,123
Demand deposits			22,741	27,169	31,415	32,970	36,698	33,109	34,351	35,516	36,618
Time and savings deposits			79,741	100,780	121,210	153,319	157,382	164,451	165,065	174,998	179,829
Government deposits			9,075	6,304	9,290	9,484	8,744	8,588	11,043	12,902	10,527
		Demand	8,482	5,771	8,374	8,232	6,864	6,773	9,305	10,869	7,936
		Time and savings	593	533	916	1,252	1,879	1,815	1,738	2,033	2,591
Due to CBSL			5,603	5,843	4,053	3,625	3,624	3,934	3,867	4,050	4,377
Due to banks			2,102	3,154	6,015	9,865	12,979	14,660	15,800	21,033	21,083
Due to CFIs			136	209	553	797	805	1,315	862	1,130	928
Capital			9,868	21,851	28,278	33,460	35,561	36,337	35,307	39,238	41,056
Other liabilities			34,232	51,475	49,507	56,778	59,745	56,172	65,025	60,457	63,537
			(In percent of total assets and liabilities)
Foreign assets			12.6	9.1	10.4	8.2	7.0	8.9	8.0	7.3	8.2
	Banks abroad		3.8	2.6	3.6	2.4	2.3	3.2	2.4	2.2	2.5
	FCBUs ^1/		5.9	4.3	4.9	3.9	3.0	4.0	3.9	3.3	3.9
	Other		2.9	2.2	2.0	1.8	1.7	1.6	1.7	1.8	1.8
Cash and deposits			10.0	10.9	11.4	12.4	11.1	11.4	11.7	12.4	8.6
	Cash in till		1.7	1.6	1.5	1.3	1.3	1.4	1.6	1.8	1.6
	Deposits with CBSL		7.1	8.2	8.5	9.2	8.3	8.5	8.8	8.8	4.9
	Due from other banks		1.2	1.1	1.4	1.8	1.4	1.5	1.3	1.8	2.1
Claims on government			7.3	7.5	7.4	6.0	8.1	6.6	6.7	6.7	9.7
	Treasury bills		5.8	5.9	5.4	3.4	5.5	4.6	3.9	4.0	6.5
	Other government securities		0.6	0.3	0.5	0.2	0.2	0.2	0.2	0.2	0.2
	Other		1.0	1.3	1.5	2.4	2.4	1.7	2.5	2.5	3.0
Claims on public corp.			8.0	3.2	1.8	2.5	2.1	2.4	2.7	2.5	2.6
Claims on private sector			52.1	47.5	50.0	53.7	53.6	54.6	54.6	50.0	49.9
Other assets			10.0	21.7	19.0	17.2	18.0	16.3	16.3	21.1	21.0
Foreign liabilities			11.4	11.1	10.9	10.5	10.3	10.6	11.2	10.4	11.1
		Banks abroad	1.1	1.0	0.9	0.9	1.1	1.1	1.5	0.8	1.3
		FCBUs ^1/	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
		NRFC, RNNFC, and RFC ^2/	9.8	9.6	9.6	9.2	8.7	9.0	9.2	9.2	9.4
		Other	0.5	0.5	0.5	0.4	0.5	0.6	0.5	0.4	0.3
Demand deposits			12.3	11.1	11.2	9.8	10.4	9.3	9.2	9.1	9.1
Time and savings deposits			43.2	41.3	43.1	45.7	44.7	46.1	44.2	44.9	44.7
Government deposits			4.9	2.6	3.3	2.8	2.5	2.4	3.0	3.3	2.6
		Demand	4.6	2.4	3.0	2.5	2.0	1.9	2.5	2.8	2.0
		Time and savings	0.3	0.2	0.3	0.4	0.5	0.5	0.5	0.5	0.6
Due to CBSL			3.0	2.4	1.4	1.1	1.0	1.1	1.0	1.0	1.1
Due to banks			1.1	1.3	2.1	2.9	3.7	4.1	4.2	5.4	5.2
Due to OFIs			0.1	0.1	0.2	0.2	0.2	0.4	0.2	0.3	0.2
Capital			5.3	9.0	10.1	10.0	10.1	10.2	9.5	10.1	10.2
Other liabilities			18.6	21.1	17.6	16.9	17.0	15.8	17.4	15.5	15.8

Source: Central Bank of Sri Lanka.

^{^2/}Include Non-Resident Foreign Currency accounts, Resident Non-National Foreign Currency Accounts, and (approved) Resident Foreign Currency

Table 23.

Sri Lanka: Monetary Survey, 1992–97

Source: Central Bank of Sri Lanka.

Table 23.

Sri Lanka: Monetary Survey, 1992–97

				1992	1993	1994	1995	1996				1997
								Mar.	Jun.	Sep.	Dec.	Mar.
				(In millions of Sri Lankan rupees; end of period)
Net foreign assets				20,940	48,119	64,468	66,532	69,880	66,317	62,583	61,861	58,608
Monetary authorities				18,730	52,980	65,865	74,301	81,369	72,686	74,417	73,786	70,207
Commercial banks				2,210	-4,861	-1,397	-7,769	-11,489	-6,369	-11,834	-11,925	-11,599
Net domestic assets				108,858	112,015	127,204	162,004	169,297	174,089	179,115	191,339	202,048
Domestic credit				144,008	150,697	173,795	223,798	235,973	245,072	256,895	252,317	261,779
	Public sector			47,820	34,768	33,311	43,741	47,240	50,575	53,164	57,496	61,101
		Claims on government (net)		33,070	26,993	28,148	35,214	39,894	42,152	42,974	47,551	50,698
			Monetary authorities	28,658	14,996	16,756	24,418	20,037	27,260	29,202	34,291	22,035
			Commercial basks	4,412	11,997	11,392	10,796	19,857	14,892	13,772	13,267	28,663
		Claims on public corp.		14,750	7,775	5,163	8,527	7,346	8,423	10,190	9,938	10,403
	Claims on private sector			96,188	115,929	140,484	180,057	188,733	194,497	203,731	194,821	200,678
Other items (net)				-35,150	-38,682	-46,591	-61,794	-66,676	-70,983	-77,780	40,978	-59,731
Broad money				129,798	160,134	191,672	228,536	239,177	240,406	241,698	253,200	260,656
	Narrow money			50,057	59,354	70,462	75,217	81,795	75,955	76,633	78,202	80,827
		Currency		27,280	32,132	38,905	42,198	45,065	42,709	42,195	42,564	44,179
		Demand deposits		22,777	27,222	31,557	33,019	36,730	33,246	34,438	35,638	36,648
	Quasi-money			79,741	100,780	121,210	153,319	157,382	164,451	165,065	174,998	179,829
				(In annual percent change)
Net foreign assets				77.4	129.8	34.0	3.2	9.3	4.0	-0.3	-7.0	-16.1
Monetary authorities				90.4	182.9	24.3	12.8	18.3	6.2	7.0	-0.7	-13.7
Commercial banks				12.4	-320.0	-71.3	456.1	137.6	35.7	75.3	53.5	1.0
Net domestic assets				10.7	2.9	13.6	27.4	28.8	26.7	20.8	18.1	19.3
Domestic credit				12.7	4.6	15.3	28.8	30.8	29.8	25.0	12.7	10.9
	Public sector			-3.3	-27.3	-42	31.3	49.3	48.1	43.5	31.4	29.3
		Claims on government (net)		-6.6	-18.4	4.3	25.1	49.7	49.1	45.3	35.1	27.1
			Monetary authorities	-6.2	-47.7	11.7	45.7	38.0	62.0	48.5	40.4	10.0
			Commercial banks	4.8	171.9	-5.0	-5.2	63.6	30.1	38.9	22.9	44.3
		Claims on public corp.		4.8	-47.3	-33.6	65.2	47.5	43.3	36.3	16.5	41.6
	Claims on private sector			22.9	20.5	21.2	28.2	26.9	25.7	20.9	8.2	63
Other items (net)				19.4	10.0	20.4	32.6	36.3	38.0	35.7	-1.3	-10.4
Broad money				17.9	23.4	19.7	19.2	22.4	19.5	14.5	10.8	9.0
	Narrow money			7.4	18.6	18.7	6.7	14.7	10.5	9.0	4.0	-1.2
		Currency		9.8	17.8	21.1	8.5	10.7	10.6	5.6	0.9	-2.0
		Demand deposits		4.7	19.5	15.9	4.6	19.9	10.5	13.5	7.9	-02
	Quasi-money			25.5	26.4	20.3	26.5	26.9	24.2	17.3	14.1	14.3
Contributions to broad money growth
				(In percent of Broad Money 12 months ago)
Net foreign assets				8.3	20.9	10.2	1.1	3.0	1.3	-0.1	-2.0	-4.7
Net domestic assets				9.6	2.4	9.5	18.2	19.4	18.2	14.6	12.8	13.7
Domestic credit				14.8	5.2	14.4	26.1	28.5	27.9	24.3	12.5	10.8
	Public sector			-1.5	-10.1	-0.9	5.4	8.0	82	7.6	6.0	5.8
	Private sector			16.3	15.2	15.3	20.6	20.5	19.8	16.7	6.5	5.0
Other assets (net)				-5.2	-2.7	-4.9	-7.9	-9.1	-9.7	-9.7	0.4	2.9
Memorandum
Money multiplier (BM/RM)				2.89	2.84	2.82	2.91	2.88	3.01	2.96	2.96	3.63
Velocity (GDP/geom. avg. BM)				3.61	3.50	3.35	3.26	3.17	3.34	3.23	3.25	3.30
Monthly exp. GDP (mn.Rp.)				425,283	499,565	579,084	667,772	679,759	752,334	756,746	782,502	812,170

Source: Central Bank of Sri Lanka.

Table 23.

Sri Lanka: Monetary Survey, 1992–97

				1992	1993	1994	1995	1996				1997
								Mar.	Jun.	Sep.	Dec.	Mar.
				(In millions of Sri Lankan rupees; end of period)
Net foreign assets				20,940	48,119	64,468	66,532	69,880	66,317	62,583	61,861	58,608
Monetary authorities				18,730	52,980	65,865	74,301	81,369	72,686	74,417	73,786	70,207
Commercial banks				2,210	-4,861	-1,397	-7,769	-11,489	-6,369	-11,834	-11,925	-11,599
Net domestic assets				108,858	112,015	127,204	162,004	169,297	174,089	179,115	191,339	202,048
Domestic credit				144,008	150,697	173,795	223,798	235,973	245,072	256,895	252,317	261,779
	Public sector			47,820	34,768	33,311	43,741	47,240	50,575	53,164	57,496	61,101
		Claims on government (net)		33,070	26,993	28,148	35,214	39,894	42,152	42,974	47,551	50,698
			Monetary authorities	28,658	14,996	16,756	24,418	20,037	27,260	29,202	34,291	22,035
			Commercial basks	4,412	11,997	11,392	10,796	19,857	14,892	13,772	13,267	28,663
		Claims on public corp.		14,750	7,775	5,163	8,527	7,346	8,423	10,190	9,938	10,403
	Claims on private sector			96,188	115,929	140,484	180,057	188,733	194,497	203,731	194,821	200,678
Other items (net)				-35,150	-38,682	-46,591	-61,794	-66,676	-70,983	-77,780	40,978	-59,731
Broad money				129,798	160,134	191,672	228,536	239,177	240,406	241,698	253,200	260,656
	Narrow money			50,057	59,354	70,462	75,217	81,795	75,955	76,633	78,202	80,827
		Currency		27,280	32,132	38,905	42,198	45,065	42,709	42,195	42,564	44,179
		Demand deposits		22,777	27,222	31,557	33,019	36,730	33,246	34,438	35,638	36,648
	Quasi-money			79,741	100,780	121,210	153,319	157,382	164,451	165,065	174,998	179,829
				(In annual percent change)
Net foreign assets				77.4	129.8	34.0	3.2	9.3	4.0	-0.3	-7.0	-16.1
Monetary authorities				90.4	182.9	24.3	12.8	18.3	6.2	7.0	-0.7	-13.7
Commercial banks				12.4	-320.0	-71.3	456.1	137.6	35.7	75.3	53.5	1.0
Net domestic assets				10.7	2.9	13.6	27.4	28.8	26.7	20.8	18.1	19.3
Domestic credit				12.7	4.6	15.3	28.8	30.8	29.8	25.0	12.7	10.9
	Public sector			-3.3	-27.3	-42	31.3	49.3	48.1	43.5	31.4	29.3
		Claims on government (net)		-6.6	-18.4	4.3	25.1	49.7	49.1	45.3	35.1	27.1
			Monetary authorities	-6.2	-47.7	11.7	45.7	38.0	62.0	48.5	40.4	10.0
			Commercial banks	4.8	171.9	-5.0	-5.2	63.6	30.1	38.9	22.9	44.3
		Claims on public corp.		4.8	-47.3	-33.6	65.2	47.5	43.3	36.3	16.5	41.6
	Claims on private sector			22.9	20.5	21.2	28.2	26.9	25.7	20.9	8.2	63
Other items (net)				19.4	10.0	20.4	32.6	36.3	38.0	35.7	-1.3	-10.4
Broad money				17.9	23.4	19.7	19.2	22.4	19.5	14.5	10.8	9.0
	Narrow money			7.4	18.6	18.7	6.7	14.7	10.5	9.0	4.0	-1.2
		Currency		9.8	17.8	21.1	8.5	10.7	10.6	5.6	0.9	-2.0
		Demand deposits		4.7	19.5	15.9	4.6	19.9	10.5	13.5	7.9	-02
	Quasi-money			25.5	26.4	20.3	26.5	26.9	24.2	17.3	14.1	14.3
Contributions to broad money growth
				(In percent of Broad Money 12 months ago)
Net foreign assets				8.3	20.9	10.2	1.1	3.0	1.3	-0.1	-2.0	-4.7
Net domestic assets				9.6	2.4	9.5	18.2	19.4	18.2	14.6	12.8	13.7
Domestic credit				14.8	5.2	14.4	26.1	28.5	27.9	24.3	12.5	10.8
	Public sector			-1.5	-10.1	-0.9	5.4	8.0	82	7.6	6.0	5.8
	Private sector			16.3	15.2	15.3	20.6	20.5	19.8	16.7	6.5	5.0
Other assets (net)				-5.2	-2.7	-4.9	-7.9	-9.1	-9.7	-9.7	0.4	2.9
Memorandum
Money multiplier (BM/RM)				2.89	2.84	2.82	2.91	2.88	3.01	2.96	2.96	3.63
Velocity (GDP/geom. avg. BM)				3.61	3.50	3.35	3.26	3.17	3.34	3.23	3.25	3.30
Monthly exp. GDP (mn.Rp.)				425,283	499,565	579,084	667,772	679,759	752,334	756,746	782,502	812,170

Source: Central Bank of Sri Lanka.

Table 24.

Sri Lanka: Selected Interest Rates, 1992–97

(in percent; end-of-period)

Source: Central Bank of Sri Lanka.

^{^1/}Weighted average.

Table 24.

Sri Lanka: Selected Interest Rates, 1992–97

(in percent; end-of-period)

	CBSL Rates			Money Market Rates			Bank Rates		Memorandum:
	Repos	Reverse Repos	Bank Rate	Interbank Call Rate	Treasury Bills 3 Months	12 Months	Prime Lending ^1/	Time and Savings ^1/	CPI Inflation Annual Rate
1992	…	…	17.0	13.0–27.0	15.9–17.2	14.3–17.1	20.2	…	13.8
1993	…	…	17.0	16.5–28.0	15.9–18.6	15.9–17.9	20.4	…	10.3
1994	20.0	…	17.0	14.0–28.0	18.7	12.8–18.1	17.8	12.6	4.2
1995	16.5	…	17.0	16.0	19.3	19.0	19.9	12.4	11.5
1996	12.8	…	17.0	13.0	17.5	17.4	18.4	12.3	16.8
95Q1	13.3	…	17.0	1.0	14.0	14.6	16.4	12.1	2.4
95Q2	13.5	…	17.0	13.2	16.1	16.1	16.6	11.9	12.9
95Q3	13.8	…	17.0	13.8	18.9	19.9	18.5	11.9	13.5
95Q4	16.5	48.3	17.0	16.0	19.3	19.0	19.9	12.4	11.5
Jan-96	13.8	…	17.0	16.5	18.4	18.4	19.6	12.4	11.2
Feb	10.0	…	17.0	10.3	15.6	15.4	18.7	12.4	11.8
Mar	9.5	…	17.0	10.1	13.0	15.3	17.3	12.4	13.6
May	9.5	…	17.0	9.9	13.9	15.7	17.4	12.4	14.3
Jun	11.8	…	17.0	14.0	13.0	14.7	17.7	12.4	13.8
Jul	12.8	…	17.0	16.8	15.2	15.7	17.3	12.4	16.4
Aug	12.8	…	17.0	21.3	16.2	16.4	18.3	12.4	15.6
Sep	12.8	…	17.0	14.3	16.9	17.1	18.4	12.3	19.2
Oct	13.0	…	17.0	15.5	17.3	17.4	18.5	12.3	21.5
Nov	13.0	…	17.0	25.0	17.9	18.0	18.2	12.3	19.9
Dec	13.3	…	17.0	22.5	18.2	17.9	19.5	12.3	16.5
Jan-97	12.8	…	17.0	24.0	17.5	17.4	18.4	12.3	16.8
Feb	11.5	…	17.0	14.5	12.9	15.3	17.1	12.1	16.7
Mar	11.0	…	17.0	13.8	12.8	15.0	16.5	12.1	15.6
Apr	7.0	…	17.0	9.0	11.9	13.5	15.8	12.0	14.3
May	8.8	…	17.0	9.1	10.7	12.8	14.0	…	13.0

Source: Central Bank of Sri Lanka.

^{^1/}Weighted average.

Table 24.

Sri Lanka: Selected Interest Rates, 1992–97

(in percent; end-of-period)

	CBSL Rates			Money Market Rates			Bank Rates		Memorandum:
	Repos	Reverse Repos	Bank Rate	Interbank Call Rate	Treasury Bills 3 Months	12 Months	Prime Lending ^1/	Time and Savings ^1/	CPI Inflation Annual Rate
1992	…	…	17.0	13.0–27.0	15.9–17.2	14.3–17.1	20.2	…	13.8
1993	…	…	17.0	16.5–28.0	15.9–18.6	15.9–17.9	20.4	…	10.3
1994	20.0	…	17.0	14.0–28.0	18.7	12.8–18.1	17.8	12.6	4.2
1995	16.5	…	17.0	16.0	19.3	19.0	19.9	12.4	11.5
1996	12.8	…	17.0	13.0	17.5	17.4	18.4	12.3	16.8
95Q1	13.3	…	17.0	1.0	14.0	14.6	16.4	12.1	2.4
95Q2	13.5	…	17.0	13.2	16.1	16.1	16.6	11.9	12.9
95Q3	13.8	…	17.0	13.8	18.9	19.9	18.5	11.9	13.5
95Q4	16.5	48.3	17.0	16.0	19.3	19.0	19.9	12.4	11.5
Jan-96	13.8	…	17.0	16.5	18.4	18.4	19.6	12.4	11.2
Feb	10.0	…	17.0	10.3	15.6	15.4	18.7	12.4	11.8
Mar	9.5	…	17.0	10.1	13.0	15.3	17.3	12.4	13.6
May	9.5	…	17.0	9.9	13.9	15.7	17.4	12.4	14.3
Jun	11.8	…	17.0	14.0	13.0	14.7	17.7	12.4	13.8
Jul	12.8	…	17.0	16.8	15.2	15.7	17.3	12.4	16.4
Aug	12.8	…	17.0	21.3	16.2	16.4	18.3	12.4	15.6
Sep	12.8	…	17.0	14.3	16.9	17.1	18.4	12.3	19.2
Oct	13.0	…	17.0	15.5	17.3	17.4	18.5	12.3	21.5
Nov	13.0	…	17.0	25.0	17.9	18.0	18.2	12.3	19.9
Dec	13.3	…	17.0	22.5	18.2	17.9	19.5	12.3	16.5
Jan-97	12.8	…	17.0	24.0	17.5	17.4	18.4	12.3	16.8
Feb	11.5	…	17.0	14.5	12.9	15.3	17.1	12.1	16.7
Mar	11.0	…	17.0	13.8	12.8	15.0	16.5	12.1	15.6
Apr	7.0	…	17.0	9.0	11.9	13.5	15.8	12.0	14.3
May	8.8	…	17.0	9.1	10.7	12.8	14.0	…	13.0

Source: Central Bank of Sri Lanka.

^{^1/}Weighted average.

Table 25.

Sri Lanka: Advances by Purpose and According to Maturity ^1/

Source: Central Bank of Sri Lanka.

^{^1/}Advances include loans, overdrafts, and bills discounted; and exclude cash items in process of collection.

^{^2/}Housing covers: personal housing (including purchase, construction, and repairs); construction of business premises; and property development.

Table 25.

Sri Lanka: Advances by Purpose and According to Maturity ^1/

			93Q4	94Q4	95Q4	96Q3	96Q4
			(In billions of Sri Lankan rupees; e.o.p.)
By Category
	Commercial		60.6	64.5	80.5	88.7	89.1
	Financial		5.8	6.5	7.9	8.5	83
	Agriculture		8.9	10.5	11.6	10.9	10.6
	Industrial		18.5	19.5	24.0	27.8	26.0
	Tourism		2.2	2.3	2.8	3.2	3.4
	Housing ^2/		143	19.5	22.2	25.8	24.0
	Consumption		6.6	11.0	13.8	15.2	16.4
	Other cans		11.4	14.0	21.0	223	19.3
		Total	128.3	147.8	183.9	202.4	197.1
			(In percent annual growth)
	Commercial		14.6	6.4	24.9	15.6	10.6
	Financial		34.9	12.1	21.7	4.9	5.0
	Agriculture		-24.6	18.0	10.6	3.8	-8.8
	Industrial		2.2	5.4	22.9	13.5	8.5
	Tourism		-313	4.5	23.7	10.3	19.5
	Housing ^2/		5.9	36.4	13.7	26.5	8.2
	Consumption		24.5	66.7	25.9	13.4	18.4
	Other loans		75.4	22.8	50.3	14.9	-83
		Total	11.0	15.2	24.5	15.1	7.1
			(In percent of total)
	Commercial		47.2	43.6	43.8	43.8	45.2
	Financial		4.5	4.4	4.3	4.2	4.2
	Agriculture		6.9	7.1	6.3	5.4	5.4
	Industrial		14.4	13.2	13.0	13.7	13.2
	Tourism		1.7	1.6	1.5	1.6	1.7
	Housing ^2/		11.1	13.2	12.1	12.7	12.2
	Consumption		5.1	7.4	7.5	7.5	8.3
	Other loans		8.9	9.5	11.4	11.0	9.8
		Total	100.0	100.0	100.0	100.0	100.0
By Maturity
	Short term		62.0	63.0	63.9	64.4	66.0
	Medium term		19.4	22.9	22.8	22.8	21.7
	Long term		18.6	14.1	13.3	12.8	12.3
		Total	100.0	100.0	100.0	100.0	100.0

Source: Central Bank of Sri Lanka.

^{^1/}Advances include loans, overdrafts, and bills discounted; and exclude cash items in process of collection.

^{^2/}Housing covers: personal housing (including purchase, construction, and repairs); construction of business premises; and property development.

Table 25.

Sri Lanka: Advances by Purpose and According to Maturity ^1/

			93Q4	94Q4	95Q4	96Q3	96Q4
			(In billions of Sri Lankan rupees; e.o.p.)
By Category
	Commercial		60.6	64.5	80.5	88.7	89.1
	Financial		5.8	6.5	7.9	8.5	83
	Agriculture		8.9	10.5	11.6	10.9	10.6
	Industrial		18.5	19.5	24.0	27.8	26.0
	Tourism		2.2	2.3	2.8	3.2	3.4
	Housing ^2/		143	19.5	22.2	25.8	24.0
	Consumption		6.6	11.0	13.8	15.2	16.4
	Other cans		11.4	14.0	21.0	223	19.3
		Total	128.3	147.8	183.9	202.4	197.1
			(In percent annual growth)
	Commercial		14.6	6.4	24.9	15.6	10.6
	Financial		34.9	12.1	21.7	4.9	5.0
	Agriculture		-24.6	18.0	10.6	3.8	-8.8
	Industrial		2.2	5.4	22.9	13.5	8.5
	Tourism		-313	4.5	23.7	10.3	19.5
	Housing ^2/		5.9	36.4	13.7	26.5	8.2
	Consumption		24.5	66.7	25.9	13.4	18.4
	Other loans		75.4	22.8	50.3	14.9	-83
		Total	11.0	15.2	24.5	15.1	7.1
			(In percent of total)
	Commercial		47.2	43.6	43.8	43.8	45.2
	Financial		4.5	4.4	4.3	4.2	4.2
	Agriculture		6.9	7.1	6.3	5.4	5.4
	Industrial		14.4	13.2	13.0	13.7	13.2
	Tourism		1.7	1.6	1.5	1.6	1.7
	Housing ^2/		11.1	13.2	12.1	12.7	12.2
	Consumption		5.1	7.4	7.5	7.5	8.3
	Other loans		8.9	9.5	11.4	11.0	9.8
		Total	100.0	100.0	100.0	100.0	100.0
By Maturity
	Short term		62.0	63.0	63.9	64.4	66.0
	Medium term		19.4	22.9	22.8	22.8	21.7
	Long term		18.6	14.1	13.3	12.8	12.3
		Total	100.0	100.0	100.0	100.0	100.0

Source: Central Bank of Sri Lanka.

^{^1/}Advances include loans, overdrafts, and bills discounted; and exclude cash items in process of collection.

^{^2/}Housing covers: personal housing (including purchase, construction, and repairs); construction of business premises; and property development.

Table 26.

Sri Lanka: Balance of Payments, 1992–96

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

Table 26.

Sri Lanka: Balance of Payments, 1992–96

			1992	1993	1994	1995	1996 Preliminary
			(In millions of SDRs)
Trade balance			-740.0	-825.5	-1,089.0	-998.2	-908.6
	Exports		1,745.0	2,046.5	2,235.0	2,503.6	2,822.1
	Imports		2,485.0	2,872.0	3,324.0	3,501.8	3,730.7
Services, net			-23.0	26.0	8.1	9.1	-67.1
	Receipts		489.3	535.2	626.9	687.9	648.8
	Payments		512.3	509.2	618.8	678.8	715.9
		Of which: Interest	-150.0	146.0	165.0	182.8	207.9
Private transfers, net			327.7	401.6	437.6	448.0	492.3
	Current account (excluding official transfers)		-435.3	-397.9	-643.3	-541.1	-483.4
Official transfers			130.2	115.0	116.7	114.5	106.1
	Capital account		382.9	647.6	551.1	467.8	324.1
Medium- and long-term, net			205.9	324.4	358.1	336.2	160.7
	Disbursements		426.0	488.0	483.5	576.5	444.9
		Government	311.9	366.5	282.2	446.8	320.2
		Private	114.1	121.5	201.3	129.7	124.7
	Amortization		220.1	163.6	125.4	240.3	284.2
		Government	125.9	143.8	104.9	154.8	177.4
		Private	94.2	19.8	20.5	85.5	106.8
Foreign investment, net			103.0	182.1	130.1	33.5	87.2
	Direct investment, net (BOI & other)		73.8	105.5	110.5	10.3	59.6
	Portfolio investment, net (CSE)		10.8	48.0	19.6	-1.5	4.5
	Privatization proceeds		18.4	28.6	0.0	24.7	23.1
Private short-term, net			96.0	141.1	62.9	98.1	76.2
		Of which: MR of commercial banks	4.7	36.0	-52.0	77.4	49.9
Government short-term, net			-22.0	0.0	0.0	0.0	0.0
Errors and omissions			59.9	45.5	96.6	-26.0	40.0
Overall balance			137.7	410.2	121.1	15.1	-13.2
Net international reserves			-137.7	-410.2	-121.1	-15.1	13.2
	Use of gross official reserves (+)		-178.6	-535.5	-172.1	1.8	37.1
	Central bank borrowing, net		-16.7	87.4	3.9	5.4	7.3
	Use of Fund credit, net		57.6	37.9	47.1	-22.3	-31.2
			(In percent of GDP)
Memorandum items:
	Current account (excluding official transfers)		-6.4	-5.4	-7.9	-6.4	-5.0
	Overall balance		2.0	5.6	1.5	0.2	-0.1
	Total debt		67.3	68.7	69.3	71.2	62.9
Total debt service (percent of goods and services exports)			15.2	12.4	10.5	13.9	14.7
			(Millions of SDR)
Gross official reserves (millions of SDRs)			681	1,217	1,389	1,387	1,350
	(In months of imports)		3.3	5.1	5.0	4.8	4.3

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

Table 26.

Sri Lanka: Balance of Payments, 1992–96

			1992	1993	1994	1995	1996 Preliminary
			(In millions of SDRs)
Trade balance			-740.0	-825.5	-1,089.0	-998.2	-908.6
	Exports		1,745.0	2,046.5	2,235.0	2,503.6	2,822.1
	Imports		2,485.0	2,872.0	3,324.0	3,501.8	3,730.7
Services, net			-23.0	26.0	8.1	9.1	-67.1
	Receipts		489.3	535.2	626.9	687.9	648.8
	Payments		512.3	509.2	618.8	678.8	715.9
		Of which: Interest	-150.0	146.0	165.0	182.8	207.9
Private transfers, net			327.7	401.6	437.6	448.0	492.3
	Current account (excluding official transfers)		-435.3	-397.9	-643.3	-541.1	-483.4
Official transfers			130.2	115.0	116.7	114.5	106.1
	Capital account		382.9	647.6	551.1	467.8	324.1
Medium- and long-term, net			205.9	324.4	358.1	336.2	160.7
	Disbursements		426.0	488.0	483.5	576.5	444.9
		Government	311.9	366.5	282.2	446.8	320.2
		Private	114.1	121.5	201.3	129.7	124.7
	Amortization		220.1	163.6	125.4	240.3	284.2
		Government	125.9	143.8	104.9	154.8	177.4
		Private	94.2	19.8	20.5	85.5	106.8
Foreign investment, net			103.0	182.1	130.1	33.5	87.2
	Direct investment, net (BOI & other)		73.8	105.5	110.5	10.3	59.6
	Portfolio investment, net (CSE)		10.8	48.0	19.6	-1.5	4.5
	Privatization proceeds		18.4	28.6	0.0	24.7	23.1
Private short-term, net			96.0	141.1	62.9	98.1	76.2
		Of which: MR of commercial banks	4.7	36.0	-52.0	77.4	49.9
Government short-term, net			-22.0	0.0	0.0	0.0	0.0
Errors and omissions			59.9	45.5	96.6	-26.0	40.0
Overall balance			137.7	410.2	121.1	15.1	-13.2
Net international reserves			-137.7	-410.2	-121.1	-15.1	13.2
	Use of gross official reserves (+)		-178.6	-535.5	-172.1	1.8	37.1
	Central bank borrowing, net		-16.7	87.4	3.9	5.4	7.3
	Use of Fund credit, net		57.6	37.9	47.1	-22.3	-31.2
			(In percent of GDP)
Memorandum items:
	Current account (excluding official transfers)		-6.4	-5.4	-7.9	-6.4	-5.0
	Overall balance		2.0	5.6	1.5	0.2	-0.1
	Total debt		67.3	68.7	69.3	71.2	62.9
Total debt service (percent of goods and services exports)			15.2	12.4	10.5	13.9	14.7
			(Millions of SDR)
Gross official reserves (millions of SDRs)			681	1,217	1,389	1,387	1,350
	(In months of imports)		3.3	5.1	5.0	4.8	4.3

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

Table 27.

Sri Lanka: Exports by Commodity, 1992–96

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

^{^2/}Consists of tea, rubber, coconuts, and coconut products.

Table 27.

Sri Lanka: Exports by Commodity, 1992–96

			1992	1993	1994	1995	1996 ^1/
			(Value in millions of SDRs)
Total			1,745.0	2,046.5	2,235.8	2,503.9	2,822.2
Agricultural products			428.9	468.7	489.4	545.8	662.3
	Tea
		Value	241.2	295.0	296.0	316.6	424.1
		Volume (million kg)	181.3	218.4	229.6	240.8	244.1
		Unit value (SDR/kg)	1.33	1.35	1.29	1.31	1.74
	Rubber
		Value	47.9	46.0	50.6	73.8	71.9
		Volume (million kg)	78.6	69.6	69.1	68.3	72.1
		Unit value (SDR/kg)	0.61	0.66	0.73	1.08	1.00
	Coconuts
		Value	43.2	27.0	34.7	45.2	55.5
		Volume (million nuts)	411.7	292.7	436.5	578.6	474.5
		Unit value (SDR/nut)	0.10	0.09	0.08	0.08	0.12
	Coconut products (value)		16.6	14.2	18.1	22.5	20.2
	Other agricultural products
		Value	80.0	86.5	90.0	87.8	90.7
		Volume (million kg)	53.7	64.8	101.6	92.4	54.6
		Unit price (SDR/kg)	1.49	133	0.89	0.95	1.66
	Industrial products		1,246.4	1,495.4	1,671.3	1,882.0	2,060.0
	Gems (value)		116.2	151.8	156.9	158.2	167.2
		Of which: Processed diamonds (value)	69.7	70.7	101.8	107.7	107.8
	Garments and textiles
		Value	861.6	1,009.3	1,081.6	1,218.6	1,310.6
		Volume (million pieces)	376.0	457.6	529.5	593.1	619.7
		Unit value (SDR/piece)	2.3	2.2	2.0	2.1	2.11
	Other industrial products (value)		268.6	334.3	432.8	505.3	582.2
Petroleum products			44.9	56.5	56.0	56.1	71.5
	Volume (‘000 metric tons)		410.1	597.9	611.8	616.1	660.9
	Unit value (SDR/ton)		109.5	94.5	91.5	91.1	108.2
Miscellaneous exports			24.8	25.9	18.8	20.0	28.4
			(Shares in total exports; in percent)
Traditional exports ^2/			20.0	18.7	17.9	18.3	20.3
	Of which: Tea		13.8	14.4	132	12.6	15.0
Nontraditional exports			80.0	81.3	82.1	81.7	79.7
	Other agricultural products		4.6	4.2	4.0	3.5	32
	Garments and textiles		49.4	49.3	48.4	48.6	46.4
	Gems		6.7	7.4	7.0	6.3	5.9
	Other industrial products		15.4	16.3	19.4	20.2	20.6
	Petroleum products		2.6	2.8	2.5	2.2	2.5
	Other		1.4	1.3	0.8	0.8	1.0
	Total		100.0	100.0	100.0	100.0	100.0

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

^{^2/}Consists of tea, rubber, coconuts, and coconut products.

Table 27.

Sri Lanka: Exports by Commodity, 1992–96

			1992	1993	1994	1995	1996 ^1/
			(Value in millions of SDRs)
Total			1,745.0	2,046.5	2,235.8	2,503.9	2,822.2
Agricultural products			428.9	468.7	489.4	545.8	662.3
	Tea
		Value	241.2	295.0	296.0	316.6	424.1
		Volume (million kg)	181.3	218.4	229.6	240.8	244.1
		Unit value (SDR/kg)	1.33	1.35	1.29	1.31	1.74
	Rubber
		Value	47.9	46.0	50.6	73.8	71.9
		Volume (million kg)	78.6	69.6	69.1	68.3	72.1
		Unit value (SDR/kg)	0.61	0.66	0.73	1.08	1.00
	Coconuts
		Value	43.2	27.0	34.7	45.2	55.5
		Volume (million nuts)	411.7	292.7	436.5	578.6	474.5
		Unit value (SDR/nut)	0.10	0.09	0.08	0.08	0.12
	Coconut products (value)		16.6	14.2	18.1	22.5	20.2
	Other agricultural products
		Value	80.0	86.5	90.0	87.8	90.7
		Volume (million kg)	53.7	64.8	101.6	92.4	54.6
		Unit price (SDR/kg)	1.49	133	0.89	0.95	1.66
	Industrial products		1,246.4	1,495.4	1,671.3	1,882.0	2,060.0
	Gems (value)		116.2	151.8	156.9	158.2	167.2
		Of which: Processed diamonds (value)	69.7	70.7	101.8	107.7	107.8
	Garments and textiles
		Value	861.6	1,009.3	1,081.6	1,218.6	1,310.6
		Volume (million pieces)	376.0	457.6	529.5	593.1	619.7
		Unit value (SDR/piece)	2.3	2.2	2.0	2.1	2.11
	Other industrial products (value)		268.6	334.3	432.8	505.3	582.2
Petroleum products			44.9	56.5	56.0	56.1	71.5
	Volume (‘000 metric tons)		410.1	597.9	611.8	616.1	660.9
	Unit value (SDR/ton)		109.5	94.5	91.5	91.1	108.2
Miscellaneous exports			24.8	25.9	18.8	20.0	28.4
			(Shares in total exports; in percent)
Traditional exports ^2/			20.0	18.7	17.9	18.3	20.3
	Of which: Tea		13.8	14.4	132	12.6	15.0
Nontraditional exports			80.0	81.3	82.1	81.7	79.7
	Other agricultural products		4.6	4.2	4.0	3.5	32
	Garments and textiles		49.4	49.3	48.4	48.6	46.4
	Gems		6.7	7.4	7.0	6.3	5.9
	Other industrial products		15.4	16.3	19.4	20.2	20.6
	Petroleum products		2.6	2.8	2.5	2.2	2.5
	Other		1.4	1.3	0.8	0.8	1.0
	Total		100.0	100.0	100.0	100.0	100.0

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

^{^2/}Consists of tea, rubber, coconuts, and coconut products.

Table 28.

Sri Lanka: Imports by Commmodity, 1992–96

Sources: Data provided by the Central Bank of Sri Lanka, and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}Includes non-monetary gold and military equipment in 1995.

^{^3/}Includes fertilizer.

^{^4/}Includes non-food consumer goods and unclassified imports.

Table 28.

Sri Lanka: Imports by Commmodity, 1992–96

				1992	1993	1994	1995	1996 ^1/
				(Value in millions of SDRs)
Total				2,485.0	2,872.0	3,321.4	3,496.6	3,729.6
Consumer goods				595.6	639.0	730.0	778.4	851.1
Rice
	Value			46.2	35.4	9.0	1.6	63.1
	Volume (‘000 metric tons)			237.0	208.8	58.4	9.5	341.2
	Unit value (SDR/ton)			194.9	169.5	154.1	168.4	184.9
Wheat
	Value			73.7	83.2	83.0	130.9	140.9
	Volume (‘000 metric tons)			709.0	771.3	826.4	1,057.9	913.0
	Unit value (SDR/ton)			103.9	107.9	99.2	123.7	154.3
Sugar
	Value			80.2	84.1	125.0	112.7	100.0
	Volume (‘000 metric tons)			370.0	393.5	491.7	417.9	381.2
	Unit value (SDR/ton)			216.8	213.7	254.2	269.7	262.3
Other food				171.5	180.0	203.0	229.8	248.7
Other consumer goods				224.0	256.3	311.0	303.4	298.4
Intermediate goods				1,264.0	1,455.5	1,607.2	1,778.5	1,906.9
	Crude petroleum
		Value		124.1	167.7	161.2	158.4	209.4
		Volume (million barrels)		9.5	13.2	14.2	13.7	15.1
		Unit value (SDR/barrel)		13.1	12.7	11.4	11.6	13.9
	Refined petroleum			101.6	53.6	45.3	96.0	120.9
	Fertilizer
		Value		38.3	46.1	43.7	57.1	52.1
		Volume (‘000 metric tons)		339.5	464.5	426.1	452.4	360.6
		Unit value (SDR/ton)		112.8	99.2	102.6	126.2	144.5
	Textiles			543.0	616.9	723.0	762.5	804.8
	Other intermediate goods			457.0	571.2	634.0	704.5	719.7
Investment goods				603.8	750.0	952.0	783.5	829.5
	Of which:		Machinery and equipment	276.9	331.5	389.6	331.0	447.7
			Transport equipment	127.7	224.1	312.8	199.9	123.0
			Building materials	128.5	138.3	168.0	179.3	181.2
	Unclassified ^2/			21.6	27.5	32.2	156.2	142.1
				(Shares in total imports; in percent)
	Food			15.0	13.3	12.6	13.6	14.8
	Petroleum			9.1	7.7	6.2	7.3	8.9
	Textiles			21.9	21.5	21.8	21.8	21.6
	Other intermediate goods ^3/			19.9	21.5	20.4	21.8	20.7
	Investment goods			24.3	26.1	28.7	22.4	22.2
	Other ^4/			9.9	9.9	10.3	13.1	11.8
	Total			100.0	100.0	100.0	100.0	100.0

Sources: Data provided by the Central Bank of Sri Lanka, and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}Includes non-monetary gold and military equipment in 1995.

^{^3/}Includes fertilizer.

^{^4/}Includes non-food consumer goods and unclassified imports.

Table 28.

Sri Lanka: Imports by Commmodity, 1992–96

				1992	1993	1994	1995	1996 ^1/
				(Value in millions of SDRs)
Total				2,485.0	2,872.0	3,321.4	3,496.6	3,729.6
Consumer goods				595.6	639.0	730.0	778.4	851.1
Rice
	Value			46.2	35.4	9.0	1.6	63.1
	Volume (‘000 metric tons)			237.0	208.8	58.4	9.5	341.2
	Unit value (SDR/ton)			194.9	169.5	154.1	168.4	184.9
Wheat
	Value			73.7	83.2	83.0	130.9	140.9
	Volume (‘000 metric tons)			709.0	771.3	826.4	1,057.9	913.0
	Unit value (SDR/ton)			103.9	107.9	99.2	123.7	154.3
Sugar
	Value			80.2	84.1	125.0	112.7	100.0
	Volume (‘000 metric tons)			370.0	393.5	491.7	417.9	381.2
	Unit value (SDR/ton)			216.8	213.7	254.2	269.7	262.3
Other food				171.5	180.0	203.0	229.8	248.7
Other consumer goods				224.0	256.3	311.0	303.4	298.4
Intermediate goods				1,264.0	1,455.5	1,607.2	1,778.5	1,906.9
	Crude petroleum
		Value		124.1	167.7	161.2	158.4	209.4
		Volume (million barrels)		9.5	13.2	14.2	13.7	15.1
		Unit value (SDR/barrel)		13.1	12.7	11.4	11.6	13.9
	Refined petroleum			101.6	53.6	45.3	96.0	120.9
	Fertilizer
		Value		38.3	46.1	43.7	57.1	52.1
		Volume (‘000 metric tons)		339.5	464.5	426.1	452.4	360.6
		Unit value (SDR/ton)		112.8	99.2	102.6	126.2	144.5
	Textiles			543.0	616.9	723.0	762.5	804.8
	Other intermediate goods			457.0	571.2	634.0	704.5	719.7
Investment goods				603.8	750.0	952.0	783.5	829.5
	Of which:		Machinery and equipment	276.9	331.5	389.6	331.0	447.7
			Transport equipment	127.7	224.1	312.8	199.9	123.0
			Building materials	128.5	138.3	168.0	179.3	181.2
	Unclassified ^2/			21.6	27.5	32.2	156.2	142.1
				(Shares in total imports; in percent)
	Food			15.0	13.3	12.6	13.6	14.8
	Petroleum			9.1	7.7	6.2	7.3	8.9
	Textiles			21.9	21.5	21.8	21.8	21.6
	Other intermediate goods ^3/			19.9	21.5	20.4	21.8	20.7
	Investment goods			24.3	26.1	28.7	22.4	22.2
	Other ^4/			9.9	9.9	10.3	13.1	11.8
	Total			100.0	100.0	100.0	100.0	100.0

Sources: Data provided by the Central Bank of Sri Lanka, and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}Includes non-monetary gold and military equipment in 1995.

^{^3/}Includes fertilizer.

^{^4/}Includes non-food consumer goods and unclassified imports.

Table 29.

Sri Lanka: Minor Nontraditional Industrial Exports, 1992/96

(In millions of SDRs)

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 29.

Sri Lanka: Minor Nontraditional Industrial Exports, 1992/96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Food, beverages, and tobacco			31.5	45.4	59.7	64.8	65.8
	Fruits and vegetable juices		1.1	0.7	0.9	0.5	0.3
	Fish, fresh and frozen		3.7	11.1	9.6	5.8	5.9
	Fish, salted		2.7	2.2	1.9	2.6	2.1
	Crustaceans and mollusks		13.4	17.3	31.3	35.5	39.3
	Manufactured tobacco		2.3	2.7	4.3	8.3	3.6
	Other		8.3	11.4	11.7	12.1	14.6
Chemical products			22.2	30.9	28.6	37.6	35.5
	Glycerol, glycerine		1.1	1.4	2.4	2.5	0.0
	Soap		0.3	0.3	0.3	0.4	0.5
	Activated carbon		11.1	11.2	10.0	11.4	11.5
	Other		9.7	18.0	15.9	23.3	23.5
Leather, rubber, paper, wood, and ceramics			146.6	183.4	245.3	259.7	284.5
	Footwear		12.3	18.5	27.2	29.3	34.8
	Rubber tires		14.5	18.1	26.2	40.9	46.9
	Other rubber products		28.0	33.0	43.8	58.6	58.3
	Wood products		12.9	15.6	24.3	17.3	9.3
	Wall tiles		4.4	5.3	6.3	6.1	6.8
	Domestic items		21.8	25.4	27.2	31.2	33.1
	Other		52.7	67.5	90.3	76.3	95.3
Mining and quarrying			4.3	3.7	5.3	5.7	6.4
	Natural graphite		1.3	1.4	1.4	1.3	1.9
	Ilmenite		1.3	1.1	2.4	1.6	0.8
	Ores and iron, pyrites		--	--	0.3	1.1	2.6
	Other		1.7	1.2	1.2	1.7	1.1
Machinery, mechanical and electrical appliances			47.1	52.4	64.4	81.7	106.4
		Total	251.7	315.8	403.3	449.5	498.6
	(As percent of total exports)		-14.4	-15.4	-18.0	-19.0	17.7
Memorandum Items:
	Garments and textiles		861.6	1,009.3	1,081.6	1,218.6	1,310.6
	Gems and jewelry		123.4	161.0	174.4	179.4	191.8

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 29.

Sri Lanka: Minor Nontraditional Industrial Exports, 1992/96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Food, beverages, and tobacco			31.5	45.4	59.7	64.8	65.8
	Fruits and vegetable juices		1.1	0.7	0.9	0.5	0.3
	Fish, fresh and frozen		3.7	11.1	9.6	5.8	5.9
	Fish, salted		2.7	2.2	1.9	2.6	2.1
	Crustaceans and mollusks		13.4	17.3	31.3	35.5	39.3
	Manufactured tobacco		2.3	2.7	4.3	8.3	3.6
	Other		8.3	11.4	11.7	12.1	14.6
Chemical products			22.2	30.9	28.6	37.6	35.5
	Glycerol, glycerine		1.1	1.4	2.4	2.5	0.0
	Soap		0.3	0.3	0.3	0.4	0.5
	Activated carbon		11.1	11.2	10.0	11.4	11.5
	Other		9.7	18.0	15.9	23.3	23.5
Leather, rubber, paper, wood, and ceramics			146.6	183.4	245.3	259.7	284.5
	Footwear		12.3	18.5	27.2	29.3	34.8
	Rubber tires		14.5	18.1	26.2	40.9	46.9
	Other rubber products		28.0	33.0	43.8	58.6	58.3
	Wood products		12.9	15.6	24.3	17.3	9.3
	Wall tiles		4.4	5.3	6.3	6.1	6.8
	Domestic items		21.8	25.4	27.2	31.2	33.1
	Other		52.7	67.5	90.3	76.3	95.3
Mining and quarrying			4.3	3.7	5.3	5.7	6.4
	Natural graphite		1.3	1.4	1.4	1.3	1.9
	Ilmenite		1.3	1.1	2.4	1.6	0.8
	Ores and iron, pyrites		--	--	0.3	1.1	2.6
	Other		1.7	1.2	1.2	1.7	1.1
Machinery, mechanical and electrical appliances			47.1	52.4	64.4	81.7	106.4
		Total	251.7	315.8	403.3	449.5	498.6
	(As percent of total exports)		-14.4	-15.4	-18.0	-19.0	17.7
Memorandum Items:
	Garments and textiles		861.6	1,009.3	1,081.6	1,218.6	1,310.6
	Gems and jewelry		123.4	161.0	174.4	179.4	191.8

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 30.

Sri Lanka: Minor Agricultural Exports, 1992–96

(In millions of SDRs)

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 30.

Sri Lanka: Minor Agricultural Exports, 1992–96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Fruits and vegetables			4.9	7.3	10.5	6.4	6.8
Coffee			0.8	0.7	5.3	1.6	0.7
Cinnamon			24.7	24.4	23.0	22.1	24.0
Cloves			1.0	1.1	0.6	0.8	1.1
Peppers			2.0	5.9	4.5	4.6	4.9
Other spices			0.9	0.6	0.7	0.8	0.9
Cashew nuts			3.8	4.4	1.6	1.4	1.3
Sesame and other oilseeds			0.9	0.1	0.1	0.1	0.0
Essential oils			1.9	1.9	2.4	3.4	2.3
Unmanufactured tobacco			27.7	26.0	22.8	23.6	29.2
Betel leaves			1.4	1.9	0.9	0.8	0.9
Other			10.0	12.2	17.8	22.2	18.7
	Total		80.0	86.5	902	87.8	90.7
		(As percent of total exports)	4.6	4.2	4.0	3.5	3.2

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 30.

Sri Lanka: Minor Agricultural Exports, 1992–96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Fruits and vegetables			4.9	7.3	10.5	6.4	6.8
Coffee			0.8	0.7	5.3	1.6	0.7
Cinnamon			24.7	24.4	23.0	22.1	24.0
Cloves			1.0	1.1	0.6	0.8	1.1
Peppers			2.0	5.9	4.5	4.6	4.9
Other spices			0.9	0.6	0.7	0.8	0.9
Cashew nuts			3.8	4.4	1.6	1.4	1.3
Sesame and other oilseeds			0.9	0.1	0.1	0.1	0.0
Essential oils			1.9	1.9	2.4	3.4	2.3
Unmanufactured tobacco			27.7	26.0	22.8	23.6	29.2
Betel leaves			1.4	1.9	0.9	0.8	0.9
Other			10.0	12.2	17.8	22.2	18.7
	Total		80.0	86.5	902	87.8	90.7
		(As percent of total exports)	4.6	4.2	4.0	3.5	3.2

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 31.

Sri Lanka: Direction of Trade, 1992–96

(In percent)

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates, based on data excluding military imports.

^{^2/}Excluding Japan.

Table 31.

Sri Lanka: Direction of Trade, 1992–96

(In percent)

			Exports					Imports
			1992	1993	1994	1995	1996 ^1/	1992	1993	1994	1995	1996 ^1/
European Union			323	30.9	30.9	31.8	29.7	133	16.5	18.1	17.9	17.7
	Of which:
		France	3.7	3.0	2.7	2.2	2.6	13	1.3	12	1.2	1.0
		Germany	8.6	8.0	6.9	6.7	5.8	3.7	3.6	3.8	3.5	3.1
		Netherlands	4.0	3.8	3.5	3.7	3.0	1.2	1.4	1.6	1.8	1.6
		United Kingdom	6.9	7.1	8.9	9.1	9.5	5.1	4.9	5.5	5.1	5.0
United States			34.0	35.3	34.7	35.5	34.1	4.7	3.6	63	3.6	3.9
Japan			5.2	5.2	5.1	5.3	6.3	12.2	12.0	11.7	10.5	9.9
Middle East			9.8	9.1	8.7	7.1	7.4	5.8	5.5	53	73	8.3
	Of which:
		Egypt	1.4	0.9	1.0	0.9	0.6	0.7	0.5	0.3	0.6	0.3
		Iran, Islamic Rep. of	2.0	0.7	0.5	0.7	0.9	3.4	2.6	2.0	1.8	3.0
		Iraq	--	--	--	--	--	--	--	--	--	--
		Saudi Arabia	1.5	1.0	1.2	0.5	0.8	0.5	03	0.5	1.7	2.2
Asia ^2/			7.3	7.9	9.5	9.2	8.5	51.8	52.2	48.1	50.0	50.0
	Of which:
		China	0.1	0.1	0.3	0.1	0.3	3.5	4.1	3.5	3.4	2.9
		India	0.5	0.7	0.7	0.8	1.0	8.8	9.1	9.0	9.8	11.2
		Pakistan	1.2	12	1.4	1.1	0.9	1.9	1.4	1.3	1.1	1.4
		Singapore	1.4	1.7	2.4	1.9	1.5	7.0	5.5	5.2	5.2	5.1
Former Soviet Union			0.4	1.8	1.2	1.3	2.8	0.7	0.3	0.1	0.2	0.4
Other countries			11.0	9.8	9.9	9.8	11.2	11.5	10.2	10.4	10.5	9.8
All countries			100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates, based on data excluding military imports.

^{^2/}Excluding Japan.

Table 31.

Sri Lanka: Direction of Trade, 1992–96

(In percent)

			Exports					Imports
			1992	1993	1994	1995	1996 ^1/	1992	1993	1994	1995	1996 ^1/
European Union			323	30.9	30.9	31.8	29.7	133	16.5	18.1	17.9	17.7
	Of which:
		France	3.7	3.0	2.7	2.2	2.6	13	1.3	12	1.2	1.0
		Germany	8.6	8.0	6.9	6.7	5.8	3.7	3.6	3.8	3.5	3.1
		Netherlands	4.0	3.8	3.5	3.7	3.0	1.2	1.4	1.6	1.8	1.6
		United Kingdom	6.9	7.1	8.9	9.1	9.5	5.1	4.9	5.5	5.1	5.0
United States			34.0	35.3	34.7	35.5	34.1	4.7	3.6	63	3.6	3.9
Japan			5.2	5.2	5.1	5.3	6.3	12.2	12.0	11.7	10.5	9.9
Middle East			9.8	9.1	8.7	7.1	7.4	5.8	5.5	53	73	8.3
	Of which:
		Egypt	1.4	0.9	1.0	0.9	0.6	0.7	0.5	0.3	0.6	0.3
		Iran, Islamic Rep. of	2.0	0.7	0.5	0.7	0.9	3.4	2.6	2.0	1.8	3.0
		Iraq	--	--	--	--	--	--	--	--	--	--
		Saudi Arabia	1.5	1.0	1.2	0.5	0.8	0.5	03	0.5	1.7	2.2
Asia ^2/			7.3	7.9	9.5	9.2	8.5	51.8	52.2	48.1	50.0	50.0
	Of which:
		China	0.1	0.1	0.3	0.1	0.3	3.5	4.1	3.5	3.4	2.9
		India	0.5	0.7	0.7	0.8	1.0	8.8	9.1	9.0	9.8	11.2
		Pakistan	1.2	12	1.4	1.1	0.9	1.9	1.4	1.3	1.1	1.4
		Singapore	1.4	1.7	2.4	1.9	1.5	7.0	5.5	5.2	5.2	5.1
Former Soviet Union			0.4	1.8	1.2	1.3	2.8	0.7	0.3	0.1	0.2	0.4
Other countries			11.0	9.8	9.9	9.8	11.2	11.5	10.2	10.4	10.5	9.8
All countries			100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0	100.0

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates, based on data excluding military imports.

^{^2/}Excluding Japan.

Table 32.

Sri Lanka: Indicators of Trade Performance, 1992–96

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Consists of fertilizer, petroleum, textile and other intermediate goods.

^{^2/}Consists of tea, rubber, coconuts, and coconut products.

^{^3/}Consists of gems, garments and textiles, other industrial exports, minor agricultural products, and miscellaneous exports; includes petroleum products.

^{^4/}From 1985 = 100 index.

^{^5/}Changes are December to December as calculated by the IMF, Information Notice System. The 1994 calculation is based on an adjusted consumer price index that excludes the impact of 1994 cuts in administered prices of wheat flour, bread, and kerosene.

Table 32.

Sri Lanka: Indicators of Trade Performance, 1992–96

			1992	1993	1994	1995	1996
			(In percent of GDP)
Exports			25.6	27.8	27.5	29.3	29.4
Imports			36.2	39.0	40.9	40.9	38.9
	Consumption		10.1	9.2	8.9	9.1	8.9
		Food	5.5	5.2	5.1	5.6	5.8
		Other	5.6	4.1	3.8	3.5	3.1
	Intermediate ^1/		17.1	19.7	19.9	20.8	19.9
		Petroleum	3.3	3.0	2.5	3.0	3.4
		Other	13.8	16.8	17.4	17.8	16.4
	Investment		8.9	10.1	11.6	9.2	8.7
	Other		0.2	0.1	0.5	1.8	1.5
Trade balance			-10.6	-11.2	-13.3	-11.6	-9.5
			(Annual percentage change)
Export volume			14.8	19.4	16.9	7.4	3.9
	Of which:
		Traditional ^2/	-14.6	9.5	18.7	4.3	…
		Nontraditional ^3/	22.5	22.8	18.1	11.7	…
Export unit value ^4/
	(SDR terms)		3.1	-3.1	-5.2	4.3	0.2
	Of which:
		Traditional	0.3	-2.3	-7.3	10.0	…
		Nontraditional	6.9	-4.4	-4.8	-0.2	…
Import volume			8.8	18.9	19.8	2.7	2.7
Import unit value ^4/
	(SDR terms)		-2.2	-3.0	-3.4	5.5	…
		Of which: Non-petroleum	3.5	-3.0	-2.6	5.8	…
Terms of trade			0.9	-0.1	-1.8	-1.0	2.4
Real effective exchange rate ^5/			7.6	-1.5	4.0	-2.2	12.4

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Consists of fertilizer, petroleum, textile and other intermediate goods.

^{^2/}Consists of tea, rubber, coconuts, and coconut products.

^{^3/}Consists of gems, garments and textiles, other industrial exports, minor agricultural products, and miscellaneous exports; includes petroleum products.

^{^4/}From 1985 = 100 index.

Table 32.

Sri Lanka: Indicators of Trade Performance, 1992–96

			1992	1993	1994	1995	1996
			(In percent of GDP)
Exports			25.6	27.8	27.5	29.3	29.4
Imports			36.2	39.0	40.9	40.9	38.9
	Consumption		10.1	9.2	8.9	9.1	8.9
		Food	5.5	5.2	5.1	5.6	5.8
		Other	5.6	4.1	3.8	3.5	3.1
	Intermediate ^1/		17.1	19.7	19.9	20.8	19.9
		Petroleum	3.3	3.0	2.5	3.0	3.4
		Other	13.8	16.8	17.4	17.8	16.4
	Investment		8.9	10.1	11.6	9.2	8.7
	Other		0.2	0.1	0.5	1.8	1.5
Trade balance			-10.6	-11.2	-13.3	-11.6	-9.5
			(Annual percentage change)
Export volume			14.8	19.4	16.9	7.4	3.9
	Of which:
		Traditional ^2/	-14.6	9.5	18.7	4.3	…
		Nontraditional ^3/	22.5	22.8	18.1	11.7	…
Export unit value ^4/
	(SDR terms)		3.1	-3.1	-5.2	4.3	0.2
	Of which:
		Traditional	0.3	-2.3	-7.3	10.0	…
		Nontraditional	6.9	-4.4	-4.8	-0.2	…
Import volume			8.8	18.9	19.8	2.7	2.7
Import unit value ^4/
	(SDR terms)		-2.2	-3.0	-3.4	5.5	…
		Of which: Non-petroleum	3.5	-3.0	-2.6	5.8	…
Terms of trade			0.9	-0.1	-1.8	-1.0	2.4
Real effective exchange rate ^5/			7.6	-1.5	4.0	-2.2	12.4

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Consists of fertilizer, petroleum, textile and other intermediate goods.

^{^2/}Consists of tea, rubber, coconuts, and coconut products.

^{^3/}Consists of gems, garments and textiles, other industrial exports, minor agricultural products, and miscellaneous exports; includes petroleum products.

^{^4/}From 1985 = 100 index.

Table 33.

Sri Lanka: Services, 1992–96

(In millions of SDRs)

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 33.

Sri Lanka: Services, 1992–96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Total services			-23.0	26.0	8.3	9.8	-67.8
	Credits		489.3	535.2	626.9	688.0	648.1
	Debits		512.3	509.2	618.6	678.2	715.9
Port, transportation, and insurance			31.5	73.4	96.1	87.5	94.0
	Credits		157.0	171.1	206.9	223.2	235.9
	Debits		125.5	97.7	110.8	135.7	141.9
Travel			60.0	60.1	42.8	26.0	-6.6
	Credits		139.0	146.2	161.1	149.0	114.5
	Debits		79.0	86.1	118.3	123.0	121.1
Investment income			-126.1	-90.4	-116.3	-91.7	-139.1
	Receipts		47.9	79.6	99.9	139.7	113.1
		Profits and dividends	1.0	4.1	0.5	0.7	1.0
		Interest	46.9	75.5	99.4	139.0	112.1
	Payments		174.0	170.0	216.2	231.4	252.2
		Profits and dividends	24.0	24.0	51.4	47.0	44.3
		Interest	150.0	146.0	164.8	184.4	207.9
Government services			-3.0	-10.7	-5.6	-7.0	-4.6
	Credits		13.8	10.9	17.4	13.0	16.7
	Debits		16.8	21.6	23.0	20.0	21.3
Other services			14.6	-6.4	-8.7	-7.0	-11.6
	Credits		131.6	127.4	141.6	163.0	167.9
	Debits		117.0	133.8	150.3	170.0	179.5

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 33.

Sri Lanka: Services, 1992–96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Total services			-23.0	26.0	8.3	9.8	-67.8
	Credits		489.3	535.2	626.9	688.0	648.1
	Debits		512.3	509.2	618.6	678.2	715.9
Port, transportation, and insurance			31.5	73.4	96.1	87.5	94.0
	Credits		157.0	171.1	206.9	223.2	235.9
	Debits		125.5	97.7	110.8	135.7	141.9
Travel			60.0	60.1	42.8	26.0	-6.6
	Credits		139.0	146.2	161.1	149.0	114.5
	Debits		79.0	86.1	118.3	123.0	121.1
Investment income			-126.1	-90.4	-116.3	-91.7	-139.1
	Receipts		47.9	79.6	99.9	139.7	113.1
		Profits and dividends	1.0	4.1	0.5	0.7	1.0
		Interest	46.9	75.5	99.4	139.0	112.1
	Payments		174.0	170.0	216.2	231.4	252.2
		Profits and dividends	24.0	24.0	51.4	47.0	44.3
		Interest	150.0	146.0	164.8	184.4	207.9
Government services			-3.0	-10.7	-5.6	-7.0	-4.6
	Credits		13.8	10.9	17.4	13.0	16.7
	Debits		16.8	21.6	23.0	20.0	21.3
Other services			14.6	-6.4	-8.7	-7.0	-11.6
	Credits		131.6	127.4	141.6	163.0	167.9
	Debits		117.0	133.8	150.3	170.0	179.5

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Preliminary estimates.

Table 34.

Sri Lanka: Nonmonetary Capital, 1992–96

(In millions of SDRs)

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}Consists of public corporations and private companies.

^{^3/}Including progress payments for acquisition of commercial aircraft by Air Lanka.

^{^4/}Includes trade credits but not net foreign assets of commercial banks.

^{^5/}Includes portfolio investment and privatization proceeds.

^{^6/}Includes nonconcessional project loans.

Table 34.

Sri Lanka: Nonmonetary Capital, 1992–96

(In millions of SDRs)

	1992	1993	1994	1995	1996 ^1/
Total, net	380.9	611.5	700.0	399.3	427.5
Central government, net	168.6	189.7	171.9	298.6	156.1
Concessional medium-and long-term	152.1	181.3	198.4	201.7	195.7
Disbursements	229.0	267.0	290.0	294.5	292.6
Amortization	76.9	85.7	91.6	92.8	96.9
Nonconcessional medium- and long-term	38.5	8.4	-26.5	96.9	-39.6
Disbursements	85.9	66.6	20.8	146.7	28.5
Amortization	47.4	58.2	47.3	49.8	68.1
Government short-term, net	-22.0	--	--	--	--
Private sector, net ^2/	109.3	239.7	398.0	67.2	28.1
Medium-and long-term	18.0	134.6	216.4	49.4	2.3
Disbursements	113.4	217.2	281.2	146.3	124.4
Amortization ^3/	95.4	82.6	64.8	96.9	122.1
Short-term, net ^4/	91.3	105.1	181.6	17.8	25.8
Direct investment, net ^5/	103.0	182.1	130.1	33.5	87.2
Memorandum items:
Total aid disbursements	442.2	448.6	427.5	555.6	417.5
Loans	314.9	333.6	310.8	441.2	321.0
Project loans ^6/	229.0	267.0	290.0	294.5	292.6
Commodity and program loans	85.9	66.6	20.8	146.7	28.5
Grants	130.2	115.0	116.7	114.4	96.5
Project grants	72.0	90.1	85.9	76.8	68.0
Commodity and technical assistance gran	58.2	24.9	30.8	37.6	28.4

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}Consists of public corporations and private companies.

^{^3/}Including progress payments for acquisition of commercial aircraft by Air Lanka.

^{^4/}Includes trade credits but not net foreign assets of commercial banks.

^{^5/}Includes portfolio investment and privatization proceeds.

^{^6/}Includes nonconcessional project loans.

Table 34.

Sri Lanka: Nonmonetary Capital, 1992–96

(In millions of SDRs)

	1992	1993	1994	1995	1996 ^1/
Total, net	380.9	611.5	700.0	399.3	427.5
Central government, net	168.6	189.7	171.9	298.6	156.1
Concessional medium-and long-term	152.1	181.3	198.4	201.7	195.7
Disbursements	229.0	267.0	290.0	294.5	292.6
Amortization	76.9	85.7	91.6	92.8	96.9
Nonconcessional medium- and long-term	38.5	8.4	-26.5	96.9	-39.6
Disbursements	85.9	66.6	20.8	146.7	28.5
Amortization	47.4	58.2	47.3	49.8	68.1
Government short-term, net	-22.0	--	--	--	--
Private sector, net ^2/	109.3	239.7	398.0	67.2	28.1
Medium-and long-term	18.0	134.6	216.4	49.4	2.3
Disbursements	113.4	217.2	281.2	146.3	124.4
Amortization ^3/	95.4	82.6	64.8	96.9	122.1
Short-term, net ^4/	91.3	105.1	181.6	17.8	25.8
Direct investment, net ^5/	103.0	182.1	130.1	33.5	87.2
Memorandum items:
Total aid disbursements	442.2	448.6	427.5	555.6	417.5
Loans	314.9	333.6	310.8	441.2	321.0
Project loans ^6/	229.0	267.0	290.0	294.5	292.6
Commodity and program loans	85.9	66.6	20.8	146.7	28.5
Grants	130.2	115.0	116.7	114.4	96.5
Project grants	72.0	90.1	85.9	76.8	68.0
Commodity and technical assistance gran	58.2	24.9	30.8	37.6	28.4

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}Consists of public corporations and private companies.

^{^3/}Including progress payments for acquisition of commercial aircraft by Air Lanka.

^{^4/}Includes trade credits but not net foreign assets of commercial banks.

^{^5/}Includes portfolio investment and privatization proceeds.

^{^6/}Includes nonconcessional project loans.

Table 35.

Sri Lanka: External Debt-Service Payments, 1992–96

(In millions of SDRs)

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Provisional estimates.

^{^2/}With government guarantee.

^{^3/}Includes interest payments on trade credits, borrowings from FCBUs, Central Bank and commercial bank liabilities and foreign currency deposits of nonresidents.

^{^4/}Excluding progress payments for the purchase of aircraft by Air Lanka.

^{^5/}Including the IMF.

^{^6/}Interest payments on concessional debt divided by the stock of concessional debt.

^{^7/}Interest payments on nonconcessional debt divided by the stock of nonconcessional debt.

Table 35.

Sri Lanka: External Debt-Service Payments, 1992–96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Interest			150.0	146.0	164.8	184.2	197.8
Government			82.9	80.2	83.7	83.7	96.4
	Concessional		57.8	66.4	68.7	71.0	75.7
		Multilateral	11.4	13.1	14.0	14.6	18.7
		Bilateral	46.3	53.3	54.7	57.2	57.0
	Nonconcessional		25.1	13.8	15.1	12.7	20.7
Nongovernment			33.3	30.7	41.5	51.0	46.4
	Public corporations ^2/		13.2	15.8	19.3	25.9	34.9
	Private sector ^2/		7.8	8.9	11.8	103	4.1
	Other public corporations		0.2	0.2	1.2	0.1	0.1
	Other private sector		12.1	5.8	9.2	14.7	7.3
IMF			7.8	2.1	5.0	5.4	5.0
Short-term debt ^3/			26.0	33.0	34.6	44.1	50.0
Amortization			220.1	163.6	170.3	216.6	287.5
Government			125.9	143.8	149.7	152.5	165.4
	Concessional		76.9	85.6	91.0	93.1	97.3
		Multilateral	12.4	13.5	12.9	15.5	20.4
		Bilateral	64.6	72.2	78.1	77.6	76.9
	Nonconcessional		49.0	58.2	58.7	59.4	68.1
Nongovernment			94.2	19.8	20.6	64.1	122.1
	Public corporations ^2/ ^4/		26.4	27.5	35.1	41.7	49.6
	Private sector ^2/		3.3	3.4	3.0	3.6	17.2
	Other public corporations		1.0	1.0	0.1	0.1	0.1
	Other private sector		20.6	19.5	15.9	29.7	55.2
Progress payments			42.9	-31.6	-33.5	-11.0
IMF repurchases			54.4	18.1	8.9	22.0	31.3
Memorandum items:
Total debt-service ratio ^4/			19.2	12.8	12.1	13.3	15.7
Of which: Interest payments			6.9	5.8	6.0	5.8	6.2
Medium-and long-term official debt-service ratio ^5/			14.2	11.5	10.6	10.4	11.2
Interest payments/total outstanding debt			3.6	3.1	3.3	3.5	4.3
Average interest rate on concessional debt ^6/			1.6	1.7	1.7	1.6	1.8
Average interest rate on non-concessional debt ^7/			7.7	4.6	6.1	5.4	9.0

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Provisional estimates.

^{^2/}With government guarantee.

^{^3/}Includes interest payments on trade credits, borrowings from FCBUs, Central Bank and commercial bank liabilities and foreign currency deposits of nonresidents.

^{^4/}Excluding progress payments for the purchase of aircraft by Air Lanka.

^{^5/}Including the IMF.

^{^6/}Interest payments on concessional debt divided by the stock of concessional debt.

^{^7/}Interest payments on nonconcessional debt divided by the stock of nonconcessional debt.

Table 35.

Sri Lanka: External Debt-Service Payments, 1992–96

(In millions of SDRs)

			1992	1993	1994	1995	1996 ^1/
Interest			150.0	146.0	164.8	184.2	197.8
Government			82.9	80.2	83.7	83.7	96.4
	Concessional		57.8	66.4	68.7	71.0	75.7
		Multilateral	11.4	13.1	14.0	14.6	18.7
		Bilateral	46.3	53.3	54.7	57.2	57.0
	Nonconcessional		25.1	13.8	15.1	12.7	20.7
Nongovernment			33.3	30.7	41.5	51.0	46.4
	Public corporations ^2/		13.2	15.8	19.3	25.9	34.9
	Private sector ^2/		7.8	8.9	11.8	103	4.1
	Other public corporations		0.2	0.2	1.2	0.1	0.1
	Other private sector		12.1	5.8	9.2	14.7	7.3
IMF			7.8	2.1	5.0	5.4	5.0
Short-term debt ^3/			26.0	33.0	34.6	44.1	50.0
Amortization			220.1	163.6	170.3	216.6	287.5
Government			125.9	143.8	149.7	152.5	165.4
	Concessional		76.9	85.6	91.0	93.1	97.3
		Multilateral	12.4	13.5	12.9	15.5	20.4
		Bilateral	64.6	72.2	78.1	77.6	76.9
	Nonconcessional		49.0	58.2	58.7	59.4	68.1
Nongovernment			94.2	19.8	20.6	64.1	122.1
	Public corporations ^2/ ^4/		26.4	27.5	35.1	41.7	49.6
	Private sector ^2/		3.3	3.4	3.0	3.6	17.2
	Other public corporations		1.0	1.0	0.1	0.1	0.1
	Other private sector		20.6	19.5	15.9	29.7	55.2
Progress payments			42.9	-31.6	-33.5	-11.0
IMF repurchases			54.4	18.1	8.9	22.0	31.3
Memorandum items:
Total debt-service ratio ^4/			19.2	12.8	12.1	13.3	15.7
Of which: Interest payments			6.9	5.8	6.0	5.8	6.2
Medium-and long-term official debt-service ratio ^5/			14.2	11.5	10.6	10.4	11.2
Interest payments/total outstanding debt			3.6	3.1	3.3	3.5	4.3
Average interest rate on concessional debt ^6/			1.6	1.7	1.7	1.6	1.8
Average interest rate on non-concessional debt ^7/			7.7	4.6	6.1	5.4	9.0

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Provisional estimates.

^{^2/}With government guarantee.

^{^3/}Includes interest payments on trade credits, borrowings from FCBUs, Central Bank and commercial bank liabilities and foreign currency deposits of nonresidents.

^{^4/}Excluding progress payments for the purchase of aircraft by Air Lanka.

^{^5/}Including the IMF.

^{^6/}Interest payments on concessional debt divided by the stock of concessional debt.

^{^7/}Interest payments on nonconcessional debt divided by the stock of nonconcessional debt.

Table 36.

Sri Lanka: External Debt Outstanding, 1992–96

(In millions of SDRs)

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}With government guarantee.

^{^3/}Excluding nonresident foreign currency deposits.

^{^4/}Including the use of IMF credit.

^5/Foreign Currency Banking Units.

Table 36.

Sri Lanka: External Debt Outstanding, 1992–96

(In millions of SDRs)

				1992	1993	1994	1995	1996 ^1/
Total medium- and long-term debt				4,280.5	4,630.3	4,960.3	5,208.8	5,295.8
Government				3,834.8	4,106.3	4,255.8	4,425.3	4,508.9
	Concessional			3,564.6	3,837.9	4,035.0	4,193.3	4,304.4
		Multilateral		1,418.2	1,589.7	1,678.8	1,851.2	1,962.8
			IDA	796.7	881.3	922.6	984.1	1,056.2
			AsDB	567.5	655.3	705.3	764.7	856.7
			Other	54.0	53.1	50.8	51.7	49.9
		Bilateral		2,092.9	2,219.2	2,329.5	2,456.2	2,110.7
			Japan	936.4	1,082.4	1,227.2	1,306.4	1,227.1
			United States	502.7	499.8	477.2	486.1	482.3
			Germany	350.1	350.0	343.7	374.1	335.6
			Other	303.6	287.0	281.4	289.6	316.8
	Commercial			323.7	297.5	247.6	315.8	230.9
		Multilateral		14.2	12.9	10.9	9.3	8.1
		Bilateral		104.6	73.2	63.6	58.7	2.5
		Financial markets		138.8	120.8	93.5	132.2	128.5
		Supplier credits		44.5	90.6	79.6	115.6	91.8
Public corporations ^2/				175.6	209	308	376.1	394.6
Private sector ^3/				129	144	159.1	157.3	140.1
Other public corporations				2.4	1.4	1.2	1.2	1.1
Other private sector				138.7	169.6	236.2	248.9	251.1
Short-term debt				470.4	595.2	780.2	725.2	751.0
IMF				337.8	375.7	422.8	400.5	369.2
Memorandum items:
Total medium- and long-term debt ^4/				4,618.3	5,006.0	5,383.1	5,609.3	5,665.0
(In percent of GDP)				67.4	67.5	66.2	65.8	58.9
(In percent of exports of goods and nonfactor services)				211.2	200.1	194.9	183.8	168.8

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}With government guarantee.

^{^3/}Excluding nonresident foreign currency deposits.

^{^4/}Including the use of IMF credit.

^5/Foreign Currency Banking Units.

Table 36.

Sri Lanka: External Debt Outstanding, 1992–96

(In millions of SDRs)

				1992	1993	1994	1995	1996 ^1/
Total medium- and long-term debt				4,280.5	4,630.3	4,960.3	5,208.8	5,295.8
Government				3,834.8	4,106.3	4,255.8	4,425.3	4,508.9
	Concessional			3,564.6	3,837.9	4,035.0	4,193.3	4,304.4
		Multilateral		1,418.2	1,589.7	1,678.8	1,851.2	1,962.8
			IDA	796.7	881.3	922.6	984.1	1,056.2
			AsDB	567.5	655.3	705.3	764.7	856.7
			Other	54.0	53.1	50.8	51.7	49.9
		Bilateral		2,092.9	2,219.2	2,329.5	2,456.2	2,110.7
			Japan	936.4	1,082.4	1,227.2	1,306.4	1,227.1
			United States	502.7	499.8	477.2	486.1	482.3
			Germany	350.1	350.0	343.7	374.1	335.6
			Other	303.6	287.0	281.4	289.6	316.8
	Commercial			323.7	297.5	247.6	315.8	230.9
		Multilateral		14.2	12.9	10.9	9.3	8.1
		Bilateral		104.6	73.2	63.6	58.7	2.5
		Financial markets		138.8	120.8	93.5	132.2	128.5
		Supplier credits		44.5	90.6	79.6	115.6	91.8
Public corporations ^2/				175.6	209	308	376.1	394.6
Private sector ^3/				129	144	159.1	157.3	140.1
Other public corporations				2.4	1.4	1.2	1.2	1.1
Other private sector				138.7	169.6	236.2	248.9	251.1
Short-term debt				470.4	595.2	780.2	725.2	751.0
IMF				337.8	375.7	422.8	400.5	369.2
Memorandum items:
Total medium- and long-term debt ^4/				4,618.3	5,006.0	5,383.1	5,609.3	5,665.0
(In percent of GDP)				67.4	67.5	66.2	65.8	58.9
(In percent of exports of goods and nonfactor services)				211.2	200.1	194.9	183.8	168.8

Sources: Data provided by the Central Bank of Sri Lanka; and staff estimates.

^{^1/}Preliminary estimates, including external debt-financed military imports.

^{^2/}With government guarantee.

^{^3/}Excluding nonresident foreign currency deposits.

^{^4/}Including the use of IMF credit.

^5/Foreign Currency Banking Units.

Table 37.

Sri Lanka: Net International Reserves, 1992–96

(In millions of SDRs; end of period)

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Asian Clearing Union.

^{^2/}Includes special disbursement accounts and revolving credit balances.

^{^3/}Includes nonresident foreign currency and resident nonnational foreign currency deposits.

Table 37.

Sri Lanka: Net International Reserves, 1992–96

(In millions of SDRs; end of period)

			1992	1993	1994	1995	1996
I. Central Bank, net			613.6	1,132.7	1,308.4	1,305.1	1,256.5
	a. Assets		637.7	1,173.5	1,353.1	1,355.2	1,313.9
		Gold	27.1	4.1	3.8	3.5	3.4
		SDR holdings	0.1	0.3	0.2	0.6	1.3
		Liquid balances abroad	134.2	253.9	169.4	490.0	427.5
		Bilateral credit balances	0.2	0.2	0.2	0.2	0.2
		Foreign securities	464.7	854.5	1,135.9	820.0	834.4
		ACU credit balance ^1/	11.4	11.7	5.4	3.1	2.0
		Reserves on foreign currency deposit	--	48.8	38.2	37.8	45.1
	b. Liabilities		24.1	40.8	44.7	50.1	57.4
		Nonresident deposits	0.2	1.5	0.3	0.3	0.5
		Borrowings from abroad	--	--	--	--	0.0
		ACU debt balance ^1/	23.9	39.3	44.4	49.8	56.9
II. Government, net			-294.2	-332.1	-387.0	-368.6	-332.1
	a. Assets		43.6	43.6	35.8	31.9	36.1
		Reserve position in IMF	20.2	20.2	20.2	20.2	20.2
		Investments	--	--	--	--	0.0
		Other ^2/	23.4	23.4	15.6	11.7	15.9
	b. Liabilities		337.8	375.7	422.8	400.5	368.2
		Use of IMF credit	337.8	375.7	422.8	400.5	368.2
III. Commercial banks, net			35.0	-71.3	-19.2	-96.6	-146.5
	a. Assets		365.7	326.4	403.3	341.4	350.8
		Liquid balances	286.3	252.8	333.1	271.6	274.6
		Export bills	79.4	73.6	70.2	69.8	76.2
	b. Liabilities		330.7	397.7	422.5	438.0	497.3
		Foreign bank borrowing	26.3	30.6	28.9	34.6	24.4
		Foreign bank deposits	5.7	6.9	5.3	3.2	11.7
		Nonbank demand deposits ^3/	6.8	11.0	14.5	7.2	10.6
		Nonbank time deposits ^3/	291.9	349.2	373.8	393.0	450.6
IV. Net international reserves (I+II+III)			354.4	729.3	902.2	839.9	777.9
Memorandum items:
	Gross official reserves (Ia+IIa)		681.3	1,217.1	1,388.9	1,387.1	1,350.0
		(in months of current year imports)	3.3	5.1	5.0	4.9	4.3
	Net official reserves (I+II)		319.4	800.6	921.4	936.5	924.4
	Exchange rate (SL Rs/SDR)		63.3	68.2	72.8	80.4	81.4

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Asian Clearing Union.

^{^2/}Includes special disbursement accounts and revolving credit balances.

^{^3/}Includes nonresident foreign currency and resident nonnational foreign currency deposits.

Table 37.

Sri Lanka: Net International Reserves, 1992–96

(In millions of SDRs; end of period)

			1992	1993	1994	1995	1996
I. Central Bank, net			613.6	1,132.7	1,308.4	1,305.1	1,256.5
	a. Assets		637.7	1,173.5	1,353.1	1,355.2	1,313.9
		Gold	27.1	4.1	3.8	3.5	3.4
		SDR holdings	0.1	0.3	0.2	0.6	1.3
		Liquid balances abroad	134.2	253.9	169.4	490.0	427.5
		Bilateral credit balances	0.2	0.2	0.2	0.2	0.2
		Foreign securities	464.7	854.5	1,135.9	820.0	834.4
		ACU credit balance ^1/	11.4	11.7	5.4	3.1	2.0
		Reserves on foreign currency deposit	--	48.8	38.2	37.8	45.1
	b. Liabilities		24.1	40.8	44.7	50.1	57.4
		Nonresident deposits	0.2	1.5	0.3	0.3	0.5
		Borrowings from abroad	--	--	--	--	0.0
		ACU debt balance ^1/	23.9	39.3	44.4	49.8	56.9
II. Government, net			-294.2	-332.1	-387.0	-368.6	-332.1
	a. Assets		43.6	43.6	35.8	31.9	36.1
		Reserve position in IMF	20.2	20.2	20.2	20.2	20.2
		Investments	--	--	--	--	0.0
		Other ^2/	23.4	23.4	15.6	11.7	15.9
	b. Liabilities		337.8	375.7	422.8	400.5	368.2
		Use of IMF credit	337.8	375.7	422.8	400.5	368.2
III. Commercial banks, net			35.0	-71.3	-19.2	-96.6	-146.5
	a. Assets		365.7	326.4	403.3	341.4	350.8
		Liquid balances	286.3	252.8	333.1	271.6	274.6
		Export bills	79.4	73.6	70.2	69.8	76.2
	b. Liabilities		330.7	397.7	422.5	438.0	497.3
		Foreign bank borrowing	26.3	30.6	28.9	34.6	24.4
		Foreign bank deposits	5.7	6.9	5.3	3.2	11.7
		Nonbank demand deposits ^3/	6.8	11.0	14.5	7.2	10.6
		Nonbank time deposits ^3/	291.9	349.2	373.8	393.0	450.6
IV. Net international reserves (I+II+III)			354.4	729.3	902.2	839.9	777.9
Memorandum items:
	Gross official reserves (Ia+IIa)		681.3	1,217.1	1,388.9	1,387.1	1,350.0
		(in months of current year imports)	3.3	5.1	5.0	4.9	4.3
	Net official reserves (I+II)		319.4	800.6	921.4	936.5	924.4
	Exchange rate (SL Rs/SDR)		63.3	68.2	72.8	80.4	81.4

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Asian Clearing Union.

^{^2/}Includes special disbursement accounts and revolving credit balances.

^{^3/}Includes nonresident foreign currency and resident nonnational foreign currency deposits.

Prepared by Chirathep Senivongs.

In a number of countries, the worsening of income distribution has reflected the decline in the share of agricultural income in total GDP, while the sector nevertheless remained a major source of employment for the population.

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Sri Lanka: Selected Issues

Author:

International Monetary Fund

Volume/Issue:: Volume 1997: Issue 095

Publisher:: International Monetary Fund

ISBN:: 9781451823370

ISSN:: 1934-7685

Pages:: 180

DOI:: https://doi.org/10.5089/9781451823370.002

Keywords
VI. Social Policies: Recent Developments and Future Priorities69

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CHART VI.1

SRI LANKA: INCOME AND EMPLOYMENT IN AGRICULTURE, 1990–96

Table 37.

Sri Lanka: Net International Reserves, 1992–96

(In millions of SDRs; end of period)

			1992	1993	1994	1995	1996
I. Central Bank, net			613.6	1,132.7	1,308.4	1,305.1	1,256.5
	a. Assets		637.7	1,173.5	1,353.1	1,355.2	1,313.9
		Gold	27.1	4.1	3.8	3.5	3.4
		SDR holdings	0.1	0.3	0.2	0.6	1.3
		Liquid balances abroad	134.2	253.9	169.4	490.0	427.5
		Bilateral credit balances	0.2	0.2	0.2	0.2	0.2
		Foreign securities	464.7	854.5	1,135.9	820.0	834.4
		ACU credit balance ^1/	11.4	11.7	5.4	3.1	2.0
		Reserves on foreign currency deposit	--	48.8	38.2	37.8	45.1
	b. Liabilities		24.1	40.8	44.7	50.1	57.4
		Nonresident deposits	0.2	1.5	0.3	0.3	0.5
		Borrowings from abroad	--	--	--	--	0.0
		ACU debt balance ^1/	23.9	39.3	44.4	49.8	56.9
II. Government, net			-294.2	-332.1	-387.0	-368.6	-332.1
	a. Assets		43.6	43.6	35.8	31.9	36.1
		Reserve position in IMF	20.2	20.2	20.2	20.2	20.2
		Investments	--	--	--	--	0.0
		Other ^2/	23.4	23.4	15.6	11.7	15.9
	b. Liabilities		337.8	375.7	422.8	400.5	368.2
		Use of IMF credit	337.8	375.7	422.8	400.5	368.2
III. Commercial banks, net			35.0	-71.3	-19.2	-96.6	-146.5
	a. Assets		365.7	326.4	403.3	341.4	350.8
		Liquid balances	286.3	252.8	333.1	271.6	274.6
		Export bills	79.4	73.6	70.2	69.8	76.2
	b. Liabilities		330.7	397.7	422.5	438.0	497.3
		Foreign bank borrowing	26.3	30.6	28.9	34.6	24.4
		Foreign bank deposits	5.7	6.9	5.3	3.2	11.7
		Nonbank demand deposits ^3/	6.8	11.0	14.5	7.2	10.6
		Nonbank time deposits ^3/	291.9	349.2	373.8	393.0	450.6
IV. Net international reserves (I+II+III)			354.4	729.3	902.2	839.9	777.9
Memorandum items:
	Gross official reserves (Ia+IIa)		681.3	1,217.1	1,388.9	1,387.1	1,350.0
		(in months of current year imports)	3.3	5.1	5.0	4.9	4.3
	Net official reserves (I+II)		319.4	800.6	921.4	936.5	924.4
	Exchange rate (SL Rs/SDR)		63.3	68.2	72.8	80.4	81.4

Source: Data provided by the Central Bank of Sri Lanka.

^{^1/}Asian Clearing Union.

^{^2/}Includes special disbursement accounts and revolving credit balances.

^{^3/}Includes nonresident foreign currency and resident nonnational foreign currency deposits.

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Abstract

VI. Social Policies: Recent Developments and Future Priorities69

A. Social and Demographic Indicator

B. Government Expenditure on Social Services

C. Social Transfer Programs

D. Future Priorities

E. Income Distribution

STATISTICAL APPENDIX

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VI. Social Policies: Recent Developments and Future Priorities⁶⁹