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Sri Lanka's fiscal performance in 2023 shows a mixed landscape of improvement and ongoing challenges.
2023 Budget Deficit: The 2023 budget deficit of 8.26% is the lowest since 2018. But it still exceeds the government's target of 7.96%, previous years' deficits, and the FMR Act's 5% limit.
Government Revenue: Reached 11.13% in 2023, the highest since 2019, yet fell short of projections.
Government Expenditure: Exceeded expectations at 21.19%, surpassing the budgeted estimate of below 20%.
Debt to GDP Ratio: Marked a decrease for the first time in six years in 2023.
Visit Fiscal Indicators to find out what's behind these fiscal sector developments!
