Sri Lanka records 0.6-pct primary surplus in 2018: Fin Min
Mar 05, 2019 14:25 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Sri Lanka has recorded a primary surplus (before total interest costs) of 0.6 percent of gross domestic product in 2018, the second year running it has been achieved, Finance Minister Mangala Samaraweera said, presenting a budget for 2019.
Sri Lanka recorded a primary surplus in 2017 for the first time in decades he said.
Samraweera said when the current administration came into power in 2015, the primary deficit was 2.9 percent of GDP.
Sri Lanka has boosted tax revenues to improve finances, he said.
Sri Lanka was also facing a debt crisis, with revenues of 10 percent of GDP, he said.