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Sri Lanka’s government education spending is the lowest in South Asia
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
Featured Insight
Sri Lanka’s government education spending is the lowest in South Asia
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
Featured Insight
Sri Lanka’s government education spending is the lowest in South Asia
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
Featured Insight
Sri Lanka’s government education spending is the lowest in South Asia
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
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Sri Lanka moves closer to finalising debt restructuring with Japan
Sri Lanka’s Cabinet approved a debt restructuring agreement with JICA, following bipartisan negotiations and legal clearance, aiming to boost investor confidence and secure further international financial support....
2025-02-06
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Excise earns Rs.93mn as revenue from fines in first five months
The Department of Excise has managed to make a staggering sum of Rs.93 million as revenue to the government from fines imposed on various offences and violations of the Excise Ordinance during the first five months of this year. ...
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Sri Lanka, IMF make ‘significant progress’ to staff level deal
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2022-06-30
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Cabinet green-lights talks to secure US$ 57mn USAID grant
The Cabinet green-light has been received to secure US$ 57 million grant from the United States Agency for International Development (USAID) to roll out a fresh programme to enable the country to overcome the on-going crisis focusing on prod...
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First quarter budget deficit expands 21% amid sharp rise in expenses
The fiscal deficit for the first three months of 2022 expanded by 21.2% to Rs. 484.3 billion over the same period in 2021, signalling another year of a stretched budget.
2022-06-28
Daily Mirror
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