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2025 Vote on Account’s revenue gains may fall short of primary spending increase
On 6 December, Parliament approved the 2025 Vote on Account, allocating funds for the first four months of the year. To understand what a Vote on Account entails, read our blog here. For January to April 2025, primary expenditure—which includes both recurring and capital spending but excludes interest payments—is budgeted at LKR 1,425 billion. This breaks down into LKR 425 billion for capital projects and LKR 1,000 billion for recurrent expenses. The government expects revenue of LKR 1,600 billion, resulting in a primary balance (revenue minus primary expenditure) of LKR 175 billion. Compared to 2024, both expenditure and revenue have increased significantly. Primary expenditure for 2025 is projected to be LKR 454 billion (47%) higher than the LKR 971 billion spent during an average four-month* period in 2024. However, revenue is expected to grow by only LKR 400 billion (33%). This indicates that the primary balance expected for 2025 could be lower than what is achieved in 2024, extrapolating from the first four months of revenue and expenditure budgeted in the vote on account.
Featured Insight
2025 Vote on Account’s revenue gains may fall short of primary spending increase
On 6 December, Parliament approved the 2025 Vote on Account, allocating funds for the first four months of the year. To understand what a Vote on Account entails, read our blog here. For January to April 2025, primary expenditure—which includes both recurring and capital spending but excludes interest payments—is budgeted at LKR 1,425 billion. This breaks down into LKR 425 billion for capital projects and LKR 1,000 billion for recurrent expenses. The government expects revenue of LKR 1,600 billion, resulting in a primary balance (revenue minus primary expenditure) of LKR 175 billion. Compared to 2024, both expenditure and revenue have increased significantly. Primary expenditure for 2025 is projected to be LKR 454 billion (47%) higher than the LKR 971 billion spent during an average four-month* period in 2024. However, revenue is expected to grow by only LKR 400 billion (33%). This indicates that the primary balance expected for 2025 could be lower than what is achieved in 2024, extrapolating from the first four months of revenue and expenditure budgeted in the vote on account.
Featured Insight
2025 Vote on Account’s revenue gains may fall short of primary spending increase
On 6 December, Parliament approved the 2025 Vote on Account, allocating funds for the first four months of the year. To understand what a Vote on Account entails, read our blog here. For January to April 2025, primary expenditure—which includes both recurring and capital spending but excludes interest payments—is budgeted at LKR 1,425 billion. This breaks down into LKR 425 billion for capital projects and LKR 1,000 billion for recurrent expenses. The government expects revenue of LKR 1,600 billion, resulting in a primary balance (revenue minus primary expenditure) of LKR 175 billion. Compared to 2024, both expenditure and revenue have increased significantly. Primary expenditure for 2025 is projected to be LKR 454 billion (47%) higher than the LKR 971 billion spent during an average four-month* period in 2024. However, revenue is expected to grow by only LKR 400 billion (33%). This indicates that the primary balance expected for 2025 could be lower than what is achieved in 2024, extrapolating from the first four months of revenue and expenditure budgeted in the vote on account.
Featured Insight
2025 Vote on Account’s revenue gains may fall short of primary spending increase
On 6 December, Parliament approved the 2025 Vote on Account, allocating funds for the first four months of the year. To understand what a Vote on Account entails, read our blog here. For January to April 2025, primary expenditure—which includes both recurring and capital spending but excludes interest payments—is budgeted at LKR 1,425 billion. This breaks down into LKR 425 billion for capital projects and LKR 1,000 billion for recurrent expenses. The government expects revenue of LKR 1,600 billion, resulting in a primary balance (revenue minus primary expenditure) of LKR 175 billion. Compared to 2024, both expenditure and revenue have increased significantly. Primary expenditure for 2025 is projected to be LKR 454 billion (47%) higher than the LKR 971 billion spent during an average four-month* period in 2024. However, revenue is expected to grow by only LKR 400 billion (33%). This indicates that the primary balance expected for 2025 could be lower than what is achieved in 2024, extrapolating from the first four months of revenue and expenditure budgeted in the vote on account.
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Insights and analysis of government revenue.
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...
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Featured
Sri Lanka's Unique Revenue Problem
Tax to GDP and GDP per capita for most South Asian countries shows a positive relationship as can be show by the infographic below. For example Bhutan had a tax to GDP of 10% in and GDP per capita of 4% in the year 2000....
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May fuel price update: Petrol aligned with formula...
In May 2025, the prices of both Petrol 92 and Auto Diesel were reduced in Sri Lanka. Petrol 92 dropped by LKR 6 per litre, while Auto Diesel saw a more significant cut of LKR 12 per litre. This marks the fourth consecutive month in which the...
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Sri Lanka lifted its government...
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