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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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State of the Budget Report Estimates 14% Shortfall in Revenue Against Budget Projection
Sri Lanka is projected to fall short of its budget target on revenue to GDP (gross domestic product) for the 33rd consecutive year in 2024, according to the recently released ‘State of the Budget Report 2024’.
2024-04-22
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Expenditure Proposals: Budget 2024
Major expenditure proposals from the 2024 Budget.
2023-11-13
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Sectoral Allocations: Budget 2024
Sectoral allocations from the 2024 Budget.Allocations above only include Central Government allocations. Provincial allocations are not included...
2023-11-13
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Summary: Budget 2024
The 2024 budget expects budget deficit for the year 2024 to increase by 19%.
2023-11-13
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Expected GDP Outcomes: Budget 2024
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
2023-11-13
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Violation of Fiscal Rules: Budget 2024
The proposed 2024 budget violates the deficit rule set in the Fiscal Management (Responsibility) Law of 5% of GDP.
2023-11-13
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Fiscal Targets: Budget 2024
Projections in the budget expect revenue to be 13.1% of GDP in 2024.
2023-11-13
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Highlights from the Appropriation Bill for 2024
In the Appropriation Bill for 2024, key ministries such as Finance, Defense, Health, Education, Transport, and Highways witness an increase in their allocations. The Ministry of Finance experienced the largest year on ye...
2023-10-13
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Highlights from the Appropriation Bill for 2024
The Appropriation Bill for 2024 was presented to Parliament on the 5th of October, ahead of the budget speech in November.The Appropriation Bill shows that there is a 12%...
2023-10-06
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