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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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Recent trends and developments in government expenditure on civil administration.
The Problem with Procurement
Sri Lanka’s lack of compliance with the RTI Act and failure to meet IMF Commitments.Sri Lanka’s 2023 IMF Programme includes a commitment to disclose public pro...
From The PF Wire
Source:
LBO
IMF Staff Mission Recommends Avoiding Further Mone...
The IMF staff mission advised against further loosening of Sri Lanka's monetary policy, warning that it could jeopardize economic recovery and increase inflation risks. They commended the Central Bank of Sri Lanka (CBSL) for meeting its...
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Source:
Economy Next
Sri Lanka SOE policy to see over 80 firms shifted...
Sri Lanka intends to merge over 80 state firms into a holding company (HoldCo) to improve governance, raise cash, and maintain or facilitate eventual divestment of state ownership. These firms are now overseen by the Secretary to the Treasur...
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The Sunday Times
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The CPC is yet to pay over $40 million for the already used crude oil whilst over $60 million worth of crude oil is now in storage pending payment with the total payment due to suppliers being $165 million.
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Insight on Civil Administration
Flagging corruption in procurement!
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Sri Lanka’s public sector employmen...
Purification Corrupted
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The Problem with Procurement
Sri Lanka’s lack of compliance with...
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The graphs below depict the Primary Balan...
Only 11 out of 52 SOEs have Published Fi...
Out of the 52 Key State-Owned Enterprises...
The Alternatives to Universal Tax Regist...
This note argues that the Sri Lankan government’s recent proposal to implement universal ta...
International Women's Day
In Sri Lanka, as shown above, women are half as likely to enter the labour market, and twice as l...
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Featured
Sri Lanka's Unique Revenue Problem
Tax to GDP and GDP per capita for most South Asian countries shows a positive relationship as can be show by the infographic below. For example Bhutan had a tax to GDP of 10% in and GDP per capita of 4% in the year 2000....
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Restructuring Domestic Debt Must be Credible, Fast...
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Fi...
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WHT and PAYE had the largest growth in Q3 2023
The Fiscal Management Report 2024, recently released by the Ministry of Finance, offers a comprehensive analysis of the government's revenue streams. A notable highlight from the report is the remarkable growth in revenue from two key co...
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