Research Outputs: Recent submissions

Now showing items 241-260 of 2176

    • Sri Lanka met 35 IMF commitments and failed 7 by end-July 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-22)
      The share of Sri Lanka’s 100 trackable commitments in the International Monetary Fund (IMF) programme for which no data has been made available to assess progress — despite passing the agreed deadline — has increased from ...

    • Is Maldives going down Sri Lanka's path?: Maldives is increasingly finding it difficult to cover recurrent expenditure 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-17)
      Since 1983, Sri Lanka has faced the continuous challenge of its revenue falling short of covering recurrent expenditure. Subsequently, when looking at Maldives’s fiscal performance it seems to echo Sri Lanka’s trajectory. ...

    • Is Maldives going down Sri Lanka's path?: Concern on Budget Deficits 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-16)
      Besides 2017 and 2018, Sri Lanka’s annual Primary Balance has consistently been a deficit with 2021 reporting the largest deficit of 6 percent. Maldives follows a consecutive negative trend in their Primary Balance with ...

    • Exceptionalism of Domestic Debt Restructuring in Sri Lanka 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-08)
      Sri Lanka's approach to Domestic Debt Restructuring (DDR) stands out in its specificity and methodology. Notably, the strategy is centred on restructuring superannuation funds and Central Bank Holdings. According to an IMF ...

    • Tax revenue misses IMF target in 1st quarter!​ 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-04)
      According to the 2022 Annual Report from the Ministry of Finance, tax revenue for the first quarter of 2023 experienced a surge of 56%, amounting to LKR 578 billion. This was a increase from the LKR 370 billion collected ...

    • Interim Budget or Secret Budget? 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-03)
      The Ministry of Defense was specified as an implementing agency for two reasons. 1) to establish STEM focused branch campuses. STEM refers to approach of learning that integrates the areas of science, technology, engineering ...

    • Interim Budget or Secret Budget? 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-08-03)
      24 expenditure proposals and 5 regulatory proposals were tracked in this assessment. Expenditure proposals refer to those proposals that involve capital expenditure by the government distributed across ministries etc. ...

    • Interest payments weigh heaviest in 2022! 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-07-24)
      The central bank's annual report for 2022 reveals that interest payments have reached their highest level. This increase in interest payments suggests a significant debt burden on the government. The ratio of interest ...

    • Why did Sri Lanka fall short of revised 2022 tax revenue target? 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-07-20)
      Sri Lanka missed its tax revenue target in 2022, falling short by Rs 101 bn. Prioritizing fiscal consolidation has been given greater importance as part of the current IMF program. A series of budget deficits, excessive ...

    • Sri Lanka Met 33 IMF Commitments and failed 8 by end-June 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-07-17)
      Sri Lanka had verifiably met 33 of the trackable programme commitments of the International Monetary Fund (IMF) programme as at the end of June 2023 but had failed eight. Growing number of failed commitments, the number ...

    • The EPF is the Single Largest Holder of Government Treasury Bonds 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-07-16)
      On June 28, 2023, the Sri Lankan government unveiled its Domestic Debt Restructuring plan. A key component of this plan is the restructuring of bond holdings associated with superannuation funds, which are funds set up for ...

    • Only 11 out of 52 SOEs have Published Financial Data up to 2022! 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-07-13)
      Out of the 52 Key State-Owned Enterprises identified by the Ministry of Finance, only 11 have released their financial reports until the year 2022 as of June 30th, 2023. This progress does not align with Sri Lanka’s ...

    • What Caused the Rise in Tax Revenue from 2021 to 2022? 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-06-30)
      In the Central Bank's Annual Report for 2022, the government's revenues witnessed a notable surge of 38%, soaring from Rs 1,484 billion to Rs 2,013 billion. A closer examination of the revenue breakdown reveals that a ...

    • Sri Lanka met 29 IMF commitments and failed 3 by end-May 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-06-19)
      Sri Lanka had met 29 of the 100 trackable commitments of the International Monetary Fund (IMF) programme and had failed on three as of the end of May 2023. Two of the failed commitments relate to revenue. The first is to ...

    • CBSL more Optimistic than the IMF 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-06-16)
      According to the Annual Report of the Central Bank of Sri Lanka (CBSL) published for the financial year 2022, projected real Gross Domestic Product (GDP) growth was higher than the International Monetary Fund's (IMF) ...

    • Defence Sector Claims Nearly Half of State Salaries 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-06-02)
      According to the 2023 Budget Estimates, 15% of total recurrent expenditure of the government will be spent on salaries for government employees for the year 2023. As of 2023, the defence sector is estimated to claim nearly ...

    • Sri Lanka failed 2 IMF commitments and met 25 by end-April 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-05-23)
      By the end April 2023, Sri Lanka had fulfilled 25% of its trackable commitments under the IMF program. Sri Lanka fell short on two commitments that were expected to be fulfilled by April 2023. The first of these is related ...

    • How did Sri Lanka Finance Government Expenditure in 2022? 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-05-15)
      Total government expenditure for the year 2022 amounted to LKR 4,472 billion. Out of which total revenue and grants could only cover 45% of spending while the remaining 55% was financed via borrowings.

    • Sri Lanka's Unique Revenue Problem 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-04-28)
      Tax to GDP and GDP per capita for most South Asian countries shows a positive relationship. For example, Bhutan had a tax to GDP of 10% in and GDP per capita of 4% in the year 2000. By 2020, tax to GDP had risen to just ...

    • Sri Lanka met 25% of IMF commitments and failed 1 by March 

      Public Finance Infographics;
      Econ Team       (Colombo: Verite Research, 2023-04-21)
      Sri Lanka had met 25% of the trackable programme commitments of the International Monetary Fund (IMF) programme as at the end of March 2023 but had failed on one. Many of the commitments met were classified as “prior ...