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Fiscal Targets: Budget 2024
(Colombo: Verite Research, 2023-11-13)
Projections in Budget 2024 expect revenue to be 13.1% of GDP in 2024.
IMF programme’s transparency falls to lowest point in September
(Colombo: Verite Research, 2023-10-19)
The latest update from 'IMF Tracker’ of Verité Research, an online platform which tracks the 100 identified commitments in Sri Lanka’s 17th programme with the International Monetary Fund (IMF), shows that Sri Lanka verifiably ...
Sri Lanka met 41 IMF commitments and failed 11 by end-Oct
(Colombo: Verite Research, 2023-11-17)
Sri Lanka verifiably met 41 of the 73 trackable commitments that were due for completion by end-October 2023 in its ongoing programme with the International Monetary Fund (IMF), according to the latest update from ‘IMF ...
Sri Lanka to be Saddled with High Interest Bill in 2024
(Colombo: Verite Research, 2023-10-09)
The Appropriation Bill for Budget 2024 indicates an increase in allocated expenditure from LKR 5854 bn in 2023 to LKR 6563 bn in 2024. Interest payments saw a 20 percent rise, from LKR 2189 bn in 2023 to LKR 2634 bn. In ...
VAT to reach 20 year high from January
(Colombo: Verite Research, 2023-11-01)
Initially introduced in 2002, the VAT comprised two tiers: a 10% rate applicable to certain goods and services, and a 20% rate for others. However, in 2004, these rates were unified to a 15% rate, which was officially ...
Public Debt Increases in Dollar Value While Decreasing in Rupee Value
(Colombo: Verite Research, 2023-12-19)
According to recent data published by the Ministry of Finance, public debt in dollar terms fell from USD 97 Bn (end 2021) to USD 85 Bn (end 2022), however rose again to USD 91 Bn by September 2023.
The debt stock in ...
Changes in Allocations to Ministries
(Colombo: Verite Research, 2023-10-13)
In the Appropriation Bill for 2024, key ministries such as Finance, Defense, Health, Education, Transport, and Highways witness an increase in their allocations.
The Ministry of Finance experienced the largest year on ...
Sectoral Allocations: Budget 2024
(Colombo: Verite Research, 2023-11-13)
This series of infographics contains sectoral allocations from Budget 2024. Allocations to Finance, Defence and Health were among the highest.
Summary: Budget 2024
(Colombo: Verite Research, 2023-11-13)
Budget 2024 expects budget deficit for the year 2024 to increase by 19%.
Expected GDP Outcomes - Budget 2023
(Colombo: Verite Research, 2022-11-15)
Sri Lanka Budget 2023 expects a 27% year over year increase in nominal GDP, with an increase of LKR 6,519 Bn. from the revised 2022 estimates.