Sri Lanka to breach 2026 primary spending limit, but keep IMF debt targets: Minister

ECONOMYNEXT – Sri Lanka will breach the primary spending limit of 13 percent of gross domestic product on 2026 cyclone relief but will maintain the targets in an International Monetary Fund debt sustainability plan, Deputy Minister of Finance and Planning Anil Jayantha Fernando said. Approval is being sought from the parliament to spend 500 billion rupees extra in 2026. The supplementary estimate involves around 1.4 percent of GDP in extra spending breaching the 13 percent of GDP primary spending limit, with the total spending likely to reach 7,657 billion rupees, Minister Fernando said. “We are exceeding the target because it…

Read the full article →