Browsing by Author "Raj Prabu, Rajakulendran"

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    • Amendments to the Appropriation Bill Increases Government Expenditure for 2022 

      Raj Prabu, Rajakulendran (Verité Research, 2022-08-04)
      The Amendment to the Appropriation Bill for 2022 was presented to Parliament ahead of the interim budget speech. The amended bill shows a 20% increase in expenditure to LKR 4,672 billion for the year 2022 which could widen ...

    • Changes in Tax Structure Leads to Shrinking Tax Base across Various Taxes 

      Raj Prabu, Rajakulendran (Verité Research, 2022-08-06)
      Sri Lanka experienced a significant change in its tax system for the year 2020. These changes have led to a considerable shrinking in Sri Lanka’s tax base across various taxes. A narrow tax base increases tax administration ...

    • Flow of External Loans to Sri Lanka 

      Raj Prabu, Rajakulendran (Verité Research, 2022-09-14)
      For the past five years (2017-2021) China has been the largest bilateral lender to Sri Lanka. In 2021, China disbursed a total of USD 947 MN, out of which USD 809 MN was obtained as market borrowings from the China Development ...

    • Share of Foreign debt has increased to 47% of total debt by April 2022​ 

      Raj Prabu, Rajakulendran (Verité Research, 2022-08-16)
      Foreign debt as a percentage of total outstanding government debt increased from 37% at the end of 2021 to 47% in the first quarter of 2022. On average for the past decade domestic debt has accounted for 56% and foreign ...

    • Sri Lanka's Government Revenue in 2021 Covered Only 41% of Expenditure 

      Raj Prabu, Rajakulendran (Verité Research, 2022-09-07)
      Government revenue in 2021 was only 41% of its expenditure, which was inadequate to cover even its recurrent expenditure. It falls short of the two largest recurrent expenditure components cumulatively - salaries & wages, ...

    • Total SOE Losses in the first four months of 2022 Outweigh Annual Losses in 2021 

      Raj Prabu, Rajakulendran (Verité Research, 2022-08-09)
      During the first four months of 2022 the cumulative loss of State-Owned Enterprises (SOEs) amounted to LKR 860 BN. This figure outweighs the annual loss of SOEs in 2021. The top 3 contributors to the increase of the loss ...

    • Tourism Could Not Have Solved Sri Lanka’s Foreign Exchange Crisis 

      Verité Insights;Vol. 10, No. 03
      Raj Prabu, Rajakulendran       (Colombo: Verité Research, 2021-09)
      A key debate during Sri Lanka’s economic crisis is whether the current dollar shortage is a short-term liquidity problem or a more protracted and systemic issue that requires debt reduction. This insight responds to the ...