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IMF programme’s transparency falls to lowest point in September
The latest update from 'IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably met only 40 of the 71 trackable commitments that were due for completion by end-September 2023. It also shows that Sri Lanka had, at the same time, reached its lowest point in terms of both performance and transparency since the programme commenced in March. This is because the status of about 30% of the commitments due to be completed by end of September were unknown, and three of the four commitments due which specifically require the government to enhance transparency were not met. This unveils a "twin deficit in transparency": (a) a growing lack of transparency in the progress of the programme, and (b) a growing failure to meet IMF commitments that call for increased governmental transparency.
Featured Insight
IMF programme’s transparency falls to lowest point in September
The latest update from 'IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably met only 40 of the 71 trackable commitments that were due for completion by end-September 2023. It also shows that Sri Lanka had, at the same time, reached its lowest point in terms of both performance and transparency since the programme commenced in March. This is because the status of about 30% of the commitments due to be completed by end of September were unknown, and three of the four commitments due which specifically require the government to enhance transparency were not met. This unveils a "twin deficit in transparency": (a) a growing lack of transparency in the progress of the programme, and (b) a growing failure to meet IMF commitments that call for increased governmental transparency.
Featured Insight
IMF programme’s transparency falls to lowest point in September
The latest update from 'IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably met only 40 of the 71 trackable commitments that were due for completion by end-September 2023. It also shows that Sri Lanka had, at the same time, reached its lowest point in terms of both performance and transparency since the programme commenced in March. This is because the status of about 30% of the commitments due to be completed by end of September were unknown, and three of the four commitments due which specifically require the government to enhance transparency were not met. This unveils a "twin deficit in transparency": (a) a growing lack of transparency in the progress of the programme, and (b) a growing failure to meet IMF commitments that call for increased governmental transparency.
Featured Insight
IMF programme’s transparency falls to lowest point in September
The latest update from 'IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably met only 40 of the 71 trackable commitments that were due for completion by end-September 2023. It also shows that Sri Lanka had, at the same time, reached its lowest point in terms of both performance and transparency since the programme commenced in March. This is because the status of about 30% of the commitments due to be completed by end of September were unknown, and three of the four commitments due which specifically require the government to enhance transparency were not met. This unveils a "twin deficit in transparency": (a) a growing lack of transparency in the progress of the programme, and (b) a growing failure to meet IMF commitments that call for increased governmental transparency.
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Revenue
Insights and analysis of government revenue.
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expecte...
From The PF Wire
Source:
Daily FT
CBSL forecasts economy to grow by 3% in 2024
The Central Bank expects the economy to grow by 3% this year as the benefits of the eased monetary policy stance and low inflation environment continue to be gradually channelled into the economy.
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Source:
The Morning
SL tourism revenue reaches $ 1.8 Bn
The revenue earned from tourism increased to $ 205.3 million in November 2023 which is over twice the revenue in November 2022, according to the latest data. Minister o...
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Source:
economynext
Sri Lanka has little tax money left after paying s...
“In 2020 the revenue of the government was 1,373 billion rupees,” Minister Bandula Gunawardena told parliament. “To pay the salaries of state workers 794 billion rupees are used. To pay pensions another 258 billion rupees a...
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Insight on Revenue
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...
Sri Lankans enjoy most tax-free income i...
The comparison of Sri Lanka’s perso...
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Featured
The Government Has to Repay Yearly an Average of U...
The infographic shows the actual annual foreign debt service payments of GOSL (Government of Sri Lanka) from 2010 to 2020 and the projected foreign debt service payments from 2021 to 2025.
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Earnings from Tourism: Are we getting it right?
Sri Lanka is expecting the earnings from tourism to play a significant role in driving the recovery of Sri Lanka’s foreign currency. However, there are important concerns accuracy of the estimated earnings from tourism....
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Will the Increase in Cigarette Taxes Meet Budgeted...
On the 1st of Jan 2023, the government increased excises taxes on cigarettes by 20% as follows: Size Old Excise Tax per Cigarette New Excise Tax per Cigarette...
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