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Sri Lanka's mounting interest cost: The largest expenditure in Budget 2025
In budget 2025, LKR 2,950 billion (8.9% of GDP) has been allocated for interest payments on public debt. Government revenue is estimated at LKR 4,990 billion in 2025, nearly 60% of which will be spent on servicing just the interest payments on debt. Comparison of Interest Cost with Key Tax Revenues in 2025 To put this in context, tax revenues from VAT, Excise Tax, Social Security Contribution Levy, Withholding Tax, and PAYE are expected to generate LKR 2,860 billion (62% of total tax revenue ). Even all of this covers only 97% of total interest expenditure.
Featured Insight
Sri Lanka's mounting interest cost: The largest expenditure in Budget 2025
In budget 2025, LKR 2,950 billion (8.9% of GDP) has been allocated for interest payments on public debt. Government revenue is estimated at LKR 4,990 billion in 2025, nearly 60% of which will be spent on servicing just the interest payments on debt. Comparison of Interest Cost with Key Tax Revenues in 2025 To put this in context, tax revenues from VAT, Excise Tax, Social Security Contribution Levy, Withholding Tax, and PAYE are expected to generate LKR 2,860 billion (62% of total tax revenue ). Even all of this covers only 97% of total interest expenditure.
Featured Insight
Sri Lanka's mounting interest cost: The largest expenditure in Budget 2025
In budget 2025, LKR 2,950 billion (8.9% of GDP) has been allocated for interest payments on public debt. Government revenue is estimated at LKR 4,990 billion in 2025, nearly 60% of which will be spent on servicing just the interest payments on debt. Comparison of Interest Cost with Key Tax Revenues in 2025 To put this in context, tax revenues from VAT, Excise Tax, Social Security Contribution Levy, Withholding Tax, and PAYE are expected to generate LKR 2,860 billion (62% of total tax revenue ). Even all of this covers only 97% of total interest expenditure.
Featured Insight
Sri Lanka's mounting interest cost: The largest expenditure in Budget 2025
In budget 2025, LKR 2,950 billion (8.9% of GDP) has been allocated for interest payments on public debt. Government revenue is estimated at LKR 4,990 billion in 2025, nearly 60% of which will be spent on servicing just the interest payments on debt. Comparison of Interest Cost with Key Tax Revenues in 2025 To put this in context, tax revenues from VAT, Excise Tax, Social Security Contribution Levy, Withholding Tax, and PAYE are expected to generate LKR 2,860 billion (62% of total tax revenue ). Even all of this covers only 97% of total interest expenditure.
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Sri Lanka moves closer to finalising debt restructuring with Japan
Sri Lanka’s Cabinet approved a debt restructuring agreement with JICA, following bipartisan negotiations and legal clearance, aiming to boost investor confidence and secure further international financial support....
2025-02-06
Daily FT
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Budget deficit decreased by Rs. 559 billion in the first eight months of 2024
The Central Bank of Sri Lanka reports that from January to August 2024, the budget deficit reduced significantly to Rs. 911.0 billion from Rs. 1,470.7 billion in 2023, driven by an increase in government revenue and grants...
2024-10-28
The Island
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IMF review for Sri Lanka delayed
Sri Lanka’s next IMF review is delayed, while talks with bondholders and Citibank’s involvement in debt restructuring aim to help the nation exit default.
2024-10-28
Daily Mirror
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SL set to be removed from IMF’s surcharge list of countries from November
Sri Lanka will be removed from the IMF's surcharge list starting November 1, 2024, due to reforms that raise the threshold for surcharges from 187.5% to 300% of a country's quota, significantly reducing its borrowin...
2024-10-22
Daily Mirror
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Income tax revenue surges 16.3% in 2024
Sri Lanka's state revenue from income taxes rose by 16.3% to Rs 624.7 billion in the first eight months of 2024 compared to Rs 537.2 billion in 2023.
2024-10-21
The Morning
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