Wednesday July 17, 2019

Sri Lanka aims at budget deficit of 4.4-4.5 pct of GDP in 2019

Mar 04, 2019 13:45 PM GMT+0530 | 1 Comment(s)

ECONOMYNEXT  - Sri Lanka is targeting a budget deficit of 4.4 to 4.5 percent of gross domestic product in 2019 after provisionally reaching a gao of 5.3 percent of GDP in 2018, the finance ministry said.

Sri Lanka originally had a target of 4.8 percent of GDP for 2018, an attempt to cut rates with printed money in March and April 2018, de-stablized the credit system, leading to a collapse in the currency and capital flight.

In the latter part of the year, a political crisis triggered by extra-constitutional acts of President Maithripala Sirisena also hit economic activity, worsening capital flight, but may have reduced state spending.

Finance Minister Mangala Samaraweera is presenting a budget for 2019, based on themes of empowering the people, and supporting the poor, the statement said. (Colombo/Mar04/2019-SB)



  1. sacre blieu March 05, 09:15 AM

    It is high time that a number of privileges are now withdrawn from many of those receiving it, and which are mostly unjustified and even over extended. This government, for political survival have allowed itself to be bullied into submission from those demanding such advantage contrary to the wellbeing and welfare of the majority of citizens ,who have had to bear the burden. The country is, ever more been held to ransom, trapped eternally, by political conspiracy of the rulers, in an unending life of heavy debt. How much more is left for the social fabric to rot away.

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