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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
Expenditure
Insights and analysis of government expenditure.
Defence Sector Claims Nearly Half of State Salaries
According to the 2023 Budget Estimates, 15% of total recurrent expenditure of the government will be spent on salaries for government employees for the year 2023.
From The PF Wire
Source:
Daily FT
President announces sharp daily wage hike for plan...
President Ranil Wickremesinghe announced a 70% increase in the daily wage for plantation workers during the May Day rally of the Ceylon Workers’ Congress in Kotagala. Daily wage rais...
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Source:
Daily mirror
National inflation hits fresh high in December ami...
Sri Lanka’s headline inflation measured by the National Consumer Price Index (NCPI) hit 14 percent in the twelve months to December 2021— touching a fresh high from November’s 11.1 percent—the...
Read More
Source:
Daily Mirror
Govt. to infuse US$ 500mn to SriLankan Airlines as...
The government will infuse as much as US$ 500 million to SriLankan Airlines during the next five years adding much required capital to the national carrier, which is undergoing restructuring since last year, while retaining control under the...
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Insight on Expenditure
Allocation of Government expenditure fro...
On 31st May 2020, the government issued a circular allocating funds for the perio...
Allocation of Government Expenditure fro...
On 10th March 2020, the government issued a circular a...
Sri Lanka’s COVID-19 relief compared to...
In March, the Government of Sri Lanka ann...
Open Budget Survey 2019
Government budget decisions – what...
Where do government salaries go?
The government spends 22% of its total ex...
What Happens When a Government Body Runs...
When a government body runs out of money,...
Budget Promises 2018: Are Ministries Com...
The RTI Act guarantees citizens the right...
Budget Promises 2018: Most Responsive In...
Are our ministries open about the progres...
Budget Promises 2018: Most Closed Instit...
Are our ministries open about the progres...
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Featured
The EPF is the Single Largest Holder of Government...
On June 28, 2023, the Sri Lankan government unveiled its Domestic Debt Restructuring plan. A key component of this plan is the restructuring of bond holdings associated with superannuation funds, which are funds set up for retirement benefit...
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Tax revenue misses IMF target in 1st quarter!
According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected during the same peri...
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Economic Policies in an Election Year: Some Inconv...
Dr. Sharmini Coorey is a non-resident fellow at Verité Research. She was a former Department Director at the International Monetary Fund (IMF) and currently a member of the Presidential Advisory Group on multilateral engageme...
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