Sri Lankans have pawned more than Rs. 1,200 billion in gold jewellery to commercial banks as household debt and living costs continue to mount across the island.
Samagi Jana Balawegaya (SJB) parliamentarian Sujeewa Senasinghe disclosed the figure in Parliament yesterday (21), pointing to widespread financial strain among lower and middle income families following the severe economic disruptions triggered by the 2022 currency devaluation.
He said that the agriculture sector has experienced significant downturns, with overall sector output contracting by 2.3 per cent in the second quarter of 2026 and rice cultivation dropping by 15.1 per cent compared to previous strong harvests.
Farmers are facing severe financial desperation after failing to sell their paddy yields over two consecutive seasons, adding further pressure to rural livelihoods, he said.
The broader economic expansion has also slowed, slipping from the 5 per cent recorded at the conclusion of the previous administration in late 2024 to 4 per cent.
Persistent rises in utility tariffs, basic household expenses, and essential food commodities have systematically depleted family savings, forcing citizens to relinquish heirloom jewellery as an ultimate financial resort.
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