ECONOMYNEXT – Sri Lanka’s overall budget deficit fell 73 percent to 325 billion rupees and revenues grew 35.5 percent to 4945 billion rupees, as economic activity recovered and the central bank maintained monetary stability, missing its inflation target. Up to November, there was a current account surplus in the budget, indicating that total revenues were higher than recurrent spending. Tax revenues grew 36.8 percent to 4,611 billion rupees, and non-tax revenues grew 8.6 percent to 334 billion rupees, central bank data showed. Sri Lanka has improved tax administration and hiked rates after a sovereign default triggered by aggressive macro-economic policy…
Sri Lanka budget deficit down 73-pct, current account Rs304bn in surplus to Nov
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