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Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
Featured Insight
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
Featured Insight
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
Featured Insight
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
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Expenditure
Insights and analysis of government expenditure.
Total SOE Losses in the first four months of 2022 Outweigh Annual Losses in 2021
During the first four months of 2022 the cumulative loss of State-Owned Enterprises (SOEs) amounted to LKR 860 BN. This figure outweighs the annual loss of SOEs in 2021. The top 3 contributors to the increase of the...
From The PF Wire
Source:
Ceyon Today
Fuelled by Lanka IOC price hike : CPC Losses Doubl...
"The losses incurred by the Ceylon Petroleum Corporation (CPC) have more than doubled following Lanka IOC raising fuel prices last Monday, CPC Chairman Sumith Wijesinghe said. He added if the prices for February remain unchanged for the...
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Source:
Daily Mirror
Govt. prepares for austerity measures; no decision...
Although the government is yet to reach a definite decision whether to go to the International Monetary Fund (IMF) or not, it has begun preparations for austerity measures such as freezing new recruitments and restructuring welfare programme...
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Source:
The Island
JVP says CMC losing Rs 320 million from new contra...
The Colombo Municipal Council (CMC) had incurred a loss of Rs. 320 million from a contract awarded for collecting and transporting garbage, JVP Municipal Councilor Hemantha Weerakoon said yesterday.
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Insight on Expenditure
Progress of Budget Promises 2017 vs 2018
Is the government getting better at imple...
Budget Promises 2018: Progress of Promis...
Every year, the government makes promises...
The new Ministers of Finance: Will their...
The annual bu...
Education and Health in Budget 2016: Gra...
Governments make attractive promises when...
The Budget is not Mainly about Money, it...
Budgeting is a governance process that dr...
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Featured
Total SOE Losses in the first four months of 2022...
During the first four months of 2022 the cumulative loss of State-Owned Enterprises (SOEs) amounted to LKR 860 BN. This figure outweighs the annual loss of SOEs in 2021. The top 3 contributors to the increase of the...
Read More
Sri Lanka Met 38 IMF Commitments and Failed 8 by e...
Sri Lanka verifiably met 38 of the 57 trackable commitments that were due for completion by end-August in its 17th programme with the International Monetary Fund (IMF), according to the latest progress up...
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Fiscal Targets: Budget 2024
Projections in the budget expect revenue to be 13.1% of GDP in 2024.
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