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How Sri Lanka Spent, Earned, and Borrowed in 2024

The recently released CBSL Economic review shows that in 2024, government expenditure totalled LKR 6,131 billion. Nearly half—LKR 2,690 billion, or 44 percent—went on interest payments for existing debt. Day-to-day costs consumed...

Sri Lanka’s new personal income tax structure reduces tax burden across income groups

In his recent address to Parliament, the President announced proposed reforms to Sri Lanka’s Personal Income Tax (PIT) system. These changes include raising the tax-free monthly income threshold from LKR 100,000 to LKR 150,000, a...

Sri Lanka’s government education spending is the lowest in South Asia

In 2022, Sri Lanka’s government—both provincial and central—dedicated only 1.5 percent of its GDP to education, including primary, secondary, and tertiary levels. This places Sri Lanka at the bottom of the list for educatio...

Economic Transformation Act's 2.3% Primary Balance Target: Can Sri Lanka Succeed Where It Has Only Once in 74 Years?

The Economic Transformation Act (ETA), enacted recently, sets out five targets related to the fiscal management of the government to be achieved in the coming years. , These targets, mentioned below, are aimed at ensuring fiscal discipline a...

State of The Budget Report 2022: Assessment on whether the expenditure allocations and taxation policies are in line with the government’s policy

This is the second report in a series of two reports on Sri Lanka’s central government budget for the year 2022. The report assesses whether the expenditure allocations and taxation policies are in line with the government’s policy.

Sri Lanka Experiences Its Highest Rate Of Inflation Since 1954

The infographic depicts Sri Lanka’s inflation rate from 1954 to June 2022. Previous insights show the key contributors to rising inflation....

Sri Lanka’s Fitch Credit Rating has been downgraded 7 times during the last 7-years (May 2015 – May 2022)

Sri Lanka’s credit rating has been downgraded 7 times over the course of 7 years. 5 of those downgrades occurred since April 2020. In contrast, its regional peers have maintained their credit ratings. ...