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The Fiscal Management Report 2024 published by the Ministry of Finance, shows that the Primary Balance improved from LKR -317 Bn in 3rd quarter 2022 to a positive LKR 124 Bn in 3rd quarter 2023. The Budget Deficit, however, worsened from LKR -1,244 to LKR -1,614, this can be explained by rising interest costs. Interest costs alone increased significantly from LKR 927 Bn in 3rd quarter 2022 to LKR 1,737 in 3rd quarter 2023.
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