Sri Lanka Equity Forum
Dear Reader,

Registration with the Sri Lanka Equity Forum would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
Sri Lanka Equity Forum

Discussion Forum for Stock Market Investors in Sri Lanka

සිංහල පරිවර්තනය
Submit Post
Submit Post

Latest topics

» ASI MAY GO DOWN TO 5950
by Ahcha Today at 9:43 am

» Clarification on the Erroneous Report regarding Sri Lanka issued by Nomura Holdings Inc.
by ruwan326 Today at 8:59 am

» PLAYERS PICK OF THE DAY
by Ryan Hudson Today at 8:49 am

» UAL - Going down now?
by ruwan326 Yesterday at 8:01 pm

» Invest on valuable metal
by Supunnawarathna Yesterday at 7:54 pm

» Daily Foreign Transactions
by ruwan326 Yesterday at 7:01 pm

» Daily Stock Market Update
by Insights Equity Yesterday at 6:56 pm

» Market going down today?
by ruwan326 Yesterday at 12:00 pm

» SFL COLLECTION GOING ON....??????????
by sanjulanka Yesterday at 9:11 am

» ANILANA MANDATORY OFFER
by ruwan326 Mon Sep 17, 2018 7:52 pm

» Central Bank will intervene if rupee moves on speculation – official
by Miss-Sangeetha Mon Sep 17, 2018 1:41 pm

» Weekly Stock Market Roundup
by ruwan326 Mon Sep 17, 2018 6:56 am

» Treasury to take over key role of Central Bank
by ruwan326 Mon Sep 17, 2018 6:45 am

» Foreign Investment
by niru Sun Sep 16, 2018 9:49 pm

» Janashankthi Ins Deal
by sameboy Sun Sep 16, 2018 9:59 am

» CSE WEEKLY
by ruwan326 Fri Sep 14, 2018 11:02 pm

You are not connected. Please login or register

Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka budget gap contained by June 2018, despite weak revenues

Sri Lanka budget gap contained by June 2018, despite weak revenues

Go down  Message [Page 1 of 1]

ruwan326

avatar
Vice President - Equity Analytics
Vice President - Equity Analytics
Sri Lanka budget gap contained by June 2018, despite weak revenues

Sep 11 2018

Sri Lanka's tax revenues grew 3 percent to 845.3 billion rupees in the six months to June 2018, and current spending grew at a faster 8 percent to 995.6 billion rupees, but the budget deficit was down in real terms, official data show.
Total revenues with non-tax revenues of 75.3 billion rupees (up 32 percent) grew 5 percent to 920.8 billion rupees, and current spending of 995.6 billion generated a revenue deficit of 74.8 billion rupees, for the half year, up from 42 billion rupees a year earlier.
Capital expenditure and net lending was down 5 percent to 276 billion rupees, giving an overall budget deficit of 345.8 billion rupees after grants of 4.96 billion rupees.
The deficit was up 5 percent in rupee terms but in terms of projected gross domestic product it was down to 2.4 percent of GDP from 2.5 percent a year earlier. Annualized for 12-months, the deficit was 4.8 percent of GDP down from 5.5 percent during the same period last year.
Up to May Sri Lanka had given tax exemptions to fuel, losing revenues. Fuel taxes will add to revenues in the second half.
Meanwhile interest costs rose 12 percent to 391.5 billion rupees making it one of the fastest growing items on the budget. Media reports said some of the subsidy payments to banks on senior citizen loans were in arrears by the first quarter of 2018.
Currency depreciation, which adds to financing costs for foreign debt is not added to the budget in the way fiscal accounts are computed now.
Depreciation on installment repaid during a year is a cash cost to the budget.

https://economynext.com/Sri_Lanka_budget_gap_contained_by_June_2018,_despite_weak_revenues-3-11854-1.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum