Sri Lanka, Nov. 4 -- The current government has been able to systematically reduce the budget deficit, says Professor Priyanga Dunusinghe of the Department of Economics, University of Colombo.

Professor Dunusinghe pointed out that reports claiming the government has taken on a large amount of new debt over the past year are inaccurate.

Speaking at a media briefing held in Colombo, Prof. Dunusinghe noted that the present government has mainly borrowed from domestic sources due to the limitation of access to international financial markets or bilateral lenders.

He stated, "Even multilateral institutions are now providing fewer concessional loan facilities than before. Therefore, while a budget deficit remains, the government has been com...