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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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Cabinet nod to increase national minimum wage to Rs. 17,500
The Cabinet of Ministers in Sri Lanka has approved a proposal to increase the national minimum wage by Rs. 5,000. As a result, the minimum wage will rise from Rs. 12,500 to Rs. 17,500. This decision comes following a recommendation from a te...
2024-03-27
Daily Mirror
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India gives US$500mn credit line, hopes to end fuel shortages
India has given effect to the a 500 million US dollar credit line using which Sri Lanka can import oil, as money printed to keep rates low, boosted imports to record levels, triggering forex shortages and made it dif...
2022-03-10
EconomyNext
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Sri Lanka seeks US$ 300 mn Credit Line from Russia
The Sri Lankan envoy in Moscow, Prof. Janitha Liyanage yesterday said that Sri Lanka has sought a US$ 300 million Credit Line from Russia to purchase crude oil, gas and coal.“We have made a request to the Russian Government through the...
2022-03-05
Ceylon Today
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Sri Lanka money printing, deficits could lead to economic implosion: IMF report
Further money printing to finance deficits could lead to monetary instability while trade and private credit could eventually shrink, an International Monetary Fund assessment has warned, as the country reels from ta...
2022-03-04
EconomyNext
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Worker remittance bleeding continues despite incentives
The worker remittance income plummeted in January, continuing the months-long bleeding in the largest foreign income earner to the country, reflecting that the incentives offered by the authorities haven’t been effective in wooing migr...
2022-03-01
Daily News
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