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Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
Featured Insight
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
Featured Insight
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
Featured Insight
Total and primary deficits run in opposite directions
The governments primary deficit improved in the first half of 2023 compared to the corresponding period in 2022, while the budget deficit worsened increasing from LKR -903 Bn to LKR -1,243 Bn which implies a significant 93 percent increase an interest payments. Revenue increased by 43 percent from LKR 918 Bn to LKR 1315 Bn resulting in the primary deficit turning from a deficit into a surplus. Total expenditure increased as well, from LKR 1822 Bn in Q2 2022 to LKR 2560 Bn in Q2 2023, noting a 40 percent increase.
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This section contains articles written on public finance.
Is Sri Lanka Addicted to Missing Revenue Targets?
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
From The PF Wire
Source:
Daily FT
Verité Research shares structure for rational, eff...
Verité Research launched a groundbreaking initiative titled 'Blueprint for a Rational Government in Sri Lanka,...
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Source:
Asian Development Bank
Sri Lanka Shows Signs of Recovery but Must Maintai...
The Asian Development Bank's (ADB) recent Asian Development Outlook (ADO) for April 2024 projects a moderate economic recovery for Sri Lanka, with growth rates estimated at 1.9% for 2024 and 2.5% for 2025 after two consecutive years of c...
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Source:
Economy Next
Sri Lanka’s central bank collects US$1.8bn from fx...
Sri Lanka's central bank successfully purchased $113 million from the forex markets in December 2023, culminating in a total of $1.895 billion for the year. This achievement was supported by a deflationary policy stance, initiated with r...
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Insight on Articles
Schrodinger’s Banks: The Immediate Need...
This article was compiled by Professo...
Large Scale Infrastructure, Small Scale...
This article was compiled by Subhashi...
Too Many ‘Known Unknowns’ in Sri Lanka’s...
This article was compiled by Dr. Nish...
The Best Next Step for Improving Tax Col...
This article was compiled by Sumini S...
Calculating the Loss to the EPF from Pro...
This article was compiled by Dr. Nish...
Let’s Shield the EPF with the Instincts...
This article was compiled by Dr. Nish...
Restructuring Domestic Debt Must be Cred...
This article was compiled by Professo...
Why Tracking the IMF Programme Implement...
This article was compiled by Dr. Nish...
An Overview of IMF Extended Fund Facilit...
This article was compiled by Professo...
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Featured
Sri Lanka failed 2 IMF commitments & met 25 by en...
An IMF Programme usually has four main types of commitments: a) Prior Actions - These are steps a country agrees to take before the IMF approves financing or completes...
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Expected GDP Outcomes: Budget 2024
The 2024 budget forecasts a greater contraction in 2023 and higher growth in 2024 compared to IMF projections.
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“Sugar Scam” is not the Whole Iceberg: “Forestalli...
This article was compiled by Dr. Nishan de Mel. Dr. Nishan de Mel is the Executive Director of Verité Research and an economist with extensive acade...
Read More