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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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Energy and Water Supply
Energy and Water Supply
Recent trends and developments in public finance issues relating to energy and water supply.
Change in Tariffs on Monthly Electricity Consumption
Electricity tariffs were initially revised in August 2022, which was the first revision since November 2014. However, in February 2023 tariffs were revised again (see table below).
From The PF Wire
Source:
Daily Mirror
Fuel Prices Slashed
A litre of petrol (92) would be reduced by Rs. 60 and petrol (95) by Rs. 135 from midnight today, Power and Energy Minister Kanchana Wijesekara said today. https://www.dailymirror.lk/top_story/Fuel-prices...
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Source:
Daily FT
Petrol 92 price up by Rs. 30
The price of Octane 95 petrol has been increased Rs. 400 per litre with immediate effect. https://www.ft.lk/front-page/Petrol-92-price-up-by-Rs-30/44-744842 For a descriptive understanding of how...
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Source:
Daily Mirror
Electricity Bills to go up from Jan. -Minister con...
"There should be a definite increase in electricity tariffs beginning in January in order to purchase the required coal shipments for the month." Kanchana Wijesekara, Minister of Power and Energy stated.
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Insight on Energy and Water Supply
June 2025 Fuel Price Update: No change i...
Fuel prices remained unchanged in June 20...
May fuel price update: Petrol aligned wi...
In May 2025, the prices of both Petrol 92...
April Fuel Price Update: Petrol 92 Align...
In April 2025, the market price of Petrol...
Fuel market price unchanged for 4 months...
Since December 2024, the market prices of...
February 2025 Fuel Price Update: Fuel Pr...
On 01 February 2025, the retail prices of...
January 2025 Fuel Price Update: Market a...
On 01 January 2025, the market prices of...
Fuel Price Formula: Revised Methodology
In January 2025, the
November 2024 Fuel Price Update: Market...
Following the monthly fuel price revision...
Petrol & Diesel Market Prices vs. Formul...
Following the monthly fuel price revision...
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Featured
Maldives’ reserves continue to dip
The external reserves of the Maldives have been on a declining trend since June 2020. At that time, the gross reserves held by the Maldives Monetary Authority amounted to USD 702.5 million , sufficient to finance
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Sri Lanka’s new personal income tax structure redu...
In his recent address to Parliament, the President announced proposed reforms to Sri Lanka’s Personal Income Tax (PIT) system. These changes include raising the tax-free monthly income threshold from LKR 100,000 to LKR 150,000, a...
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The Maldives’ primary deficit still remains high
The Maldives’ primary deficit has increased since 2020, raising concerns about the country’s debt sustainability. This contrasts with Sri Lanka, where the primary deficit also increased but recovered, following its sus...
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