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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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
Featured Insight
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
Featured Insight
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
Featured Insight
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 education spending in South Asia. By contrast, countries like India, the Maldives, and Afghanistan invest over 4 percent of their GDP in public education, while Bhutan leads the way, allocating an impressive 8 percent. For the past 15 years, Sri Lanka’s education budget has remained stuck between 1.5 and 2 percent, while most other South Asian countries have steadily increased their spending. Despite Sri Lanka’s relatively strong educational outcomes, there's still plenty of room for improvement, especially when it comes to raising the quality of education and expanding access to higher education. Investing in education is crucial for building human capital, which fuels productivity and drives economic growth. Moreover, a strong education system is essential for tackling many of the social challenges the country faces today. Due to limited government revenue and spending constraints, the government may need to redirect funds from other sectors and prioritise its needs to increase the budget for education. You can explore the 2024 Budget allocations for each sector here. Let us know in the comments which areas you think the government could reduce spending on to improve education in the Sri Lanka.
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IMF calls on government to increase social spending
The IMF urged Sri Lanka to enhance social spending and ensure inclusive economic growth while maintaining fiscal discipline and meeting reform targets under its Extended Fund Facility. ...
2024-11-25
Daily News
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Parliament yesterday approved two important finance bills including one to grant tax amnesties as well as the new Securities and Exchange Commission of Sri Lanka Bill. The Finance Bill which indemnifies persons who voluntarily disclose taxab...
2021-09-08
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Government borrowings from banking sector, including CB surge in July
Borrowings by the government in July from the Central Bank and licensed commercial banks amounted to a whopping Rs.320 billion, nearly double the figure in June, as the government settled a billion dollar bond from printed money while the se...
2021-09-03
Daily Mirror
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