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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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International Monetary Fund
International Monetary Fund
Insights and analysis on the 2023 IMF programme.
How Long Did Sri Lanka Take to Secure its Board Level Agreement
Sri Lanka's debt restructuring process has been a topic of concern for many, with delays in reaching an agreement with the International Monetary Fund (IMF) causing worry among investors and policymakers alike. In this infographic, we take a closer look at the time taken betwee...
From The PF Wire
Source:
Daily Mirror
Reform delays could suspend IMF programme, jeopard...
The Bloomberg Intelligence report warns that Sri Lanka's economic recovery is at risk if reforms stall after the presidential elections, potentially leading to a suspension of the IMF program. It emphasizes the need...
Read More
Source:
Sunday Times
IMF advocates property tax and ending corporate fr...
The International Monetary Fund (IMF) recommends Sri Lanka to increase tax collection, end corporate tax exemptions, and undergo macroeconomic reforms. Notably, it emphasizes securing agreements with private bondholders and China. Despite ob...
Read More
Source:
Economy Next
Sri Lanka jacks up sugar price sharply after faili...
Sri Lanka has increased the special commodity levy (SCL) on sugar from 0.25 rupees to 50 rupees as of November 2, as per a government document signed by President Ranil Wickremesinghe in his capacity as Finance Minister. This move comes afte...
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Insight on International Monetary Fund
Sri Lanka’s IMF programme was supposed t...
On June 12, the...
30% of IMF programme commitments due in...
By the end of April 2024, Sri Lanka has n...
IMF Programme: Performance Evaluation (F...
Sri Lanka verifiably failed to meet 33% o...
Sri Lanka’s Current IMF Programme: 110 o...
The International Monetary Fund (IMF) has...
Sri Lanka met 46 IMF commitments and fai...
The transparency in Sri Lanka’s ong...
Sri Lanka met 41 IMF commitments and fai...
Sri Lanka verifiably met 41 of the 73 trackable commitments that were due for completion by end-O...
IMF programme’s transparency falls to lo...
The latest update from 'IMF Tracker&r...
Sri Lanka Met 38 IMF Commitments and Fai...
Sri Lanka verif...
Sri Lanka met 35 IMF commitments and fai...
The sh...
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Featured
Sri Lanka’s Current IMF Programme: 110 ongoing com...
The International Monetary Fund (IMF) has published its evaluation of Sri Lanka’s performance in the first phase or ‘first term’ of the ongoing Extended Fund Facility (EFF) programme, which commenced in March 2023.
Read More
Purification Corrupted
Find out how a much-needed water purification project in Sri Lanka became riddled with corruption and abuse of power due to the lack of a national procurement law.For more...
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Sri Lanka’s government education spending is the l...
In 2022, Sri Lanka’s government—both provincial and central—dedicated only 1.5 percent of its GDP to education, including primary, secondary, and tertiary levels. This places Sri Lanka at the bottom of the list for educatio...
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