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Reallocation of Funds Can Help Finance an Election
The infographic depicts the cost of an election in comparison to selected spending decisions undertaken by the government in 2022. In 2022 the government allocated LKR 19 billion for domestically funded defence projects and LKR 12 Bn for a construction of defence headquarters. Allowances for public sector workers amounted to LKR 7.3 billion. All of which outweigh the cost to hold an election.
Featured Insight
Reallocation of Funds Can Help Finance an Election
The infographic depicts the cost of an election in comparison to selected spending decisions undertaken by the government in 2022. In 2022 the government allocated LKR 19 billion for domestically funded defence projects and LKR 12 Bn for a construction of defence headquarters. Allowances for public sector workers amounted to LKR 7.3 billion. All of which outweigh the cost to hold an election.
Featured Insight
Reallocation of Funds Can Help Finance an Election
The infographic depicts the cost of an election in comparison to selected spending decisions undertaken by the government in 2022. In 2022 the government allocated LKR 19 billion for domestically funded defence projects and LKR 12 Bn for a construction of defence headquarters. Allowances for public sector workers amounted to LKR 7.3 billion. All of which outweigh the cost to hold an election.
Featured Insight
Reallocation of Funds Can Help Finance an Election
The infographic depicts the cost of an election in comparison to selected spending decisions undertaken by the government in 2022. In 2022 the government allocated LKR 19 billion for domestically funded defence projects and LKR 12 Bn for a construction of defence headquarters. Allowances for public sector workers amounted to LKR 7.3 billion. All of which outweigh the cost to hold an election.
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Revenue
Insights and analysis of government revenue.
Government revenue set to rise by LKR 922 billion in 2025— What’s driving the increase?
The approved budget estimates for 2025 projects Government Revenue to increase to LKR 5,012 billion. This includes non-tax revenue but excludes provincial revenue and grants. The figure marks an increase of LKR 922 billion—or 23 percen...
From The PF Wire
Source:
The Morning
Workers’ remittances decline in September
In September 2024, Sri Lanka’s remittances reached $556 million, tourism earnings were $181 million, and gross official reserves rose to $6 billion, covering 3.9 months of imports.
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Source:
The Morning
52 key SOEs made Rs. 340 b profit in 2023
These SOEs collectively shifted from a loss of Rs. 740 billion in 2022 to a profit of Rs. 340 billion in 2023 after implementing reforms. The introduction of Aswesuma was noted to alleviat...
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Source:
Economy Next
Sri Lanka official remittances up 46-pct in Octobe...
In October 2023, Sri Lanka's official remittances surged to $517.4 million, a 46% increase from a year prior, attributed to improved exchange rates and expatriates sending more earnings. Despite this rise, official remittances have decre...
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Insight on Revenue
Government revenue set to rise by LKR 92...
The approved budget estimates for 2025 pr...
Sri Lanka’s new personal income tax stru...
In his recent address to Parliament, the...
Tax policy proposals announced by the pr...
In his parliamentary speech on December 1...
Sri Lanka’s higher tax rate and lower re...
Sri Lanka's Corporate Income Tax (CIT...
Government revenue rose during the first...
During the first eight months of 2024, go...
Sri Lanka’s generous tax-free personal i...
Sri Lanka has the highest tax-free income...
Sri Lanka’s quick climb to the top perso...
Sri Lanka imposes its highest tax rate at...
Disparity in personal income tax burden...
Sri Lanka's personal income tax burde...
‘Asset Declarations Penalty Calculator’...
The Anti-Corruption Act No. 9 of 2023 int...
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Featured
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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Summary: Budget 2024
The 2024 budget expects budget deficit for the year 2024 to increase by 19%.
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Too Many ‘Known Unknowns’ in Sri Lanka’s IMF Progr...
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
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