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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. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
Featured Insight
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. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
Featured Insight
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. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
Featured Insight
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. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
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Revenue
Revenue
Insights and analysis of government revenue.
VAT to drive revenue growth in 2024
Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The chart above shows that more than half the increase (56%) is expecte...
From The PF Wire
Source:
Daily News
Government lost Rs. 1,384 Mn in tax revenue due to...
A tax revenue loss of Rs. 1,384 million occurred due to increasing the luxury tax exemption limit for electric vehicles under a remittance scheme for overseas workers, with the program plagued by unethical permit issuan...
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Source:
Daily FT
Govt.’s tax revenue effort gathers momentum in 1H
In the first half of 2024, the overall budget deficit significantly decreased to Rs. 598.7 billion, down from Rs. 1.24 trillion in the same period of 2023, reflecting improved fiscal management. ...
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Source:
The Morning
Merchandise trade deficit narrowed in March
In March 2024, the merchandise trade deficit narrowed to $369 million, compared to $412 million in March 2023, primarily due to higher export growth than import growth.
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Insight on Revenue
Sri Lanka’s new personal income tax stru...
In his recent address to Parliament, the...
Tax policy proposals announced by the pr...
In his parliamentary speech on December 1...
Sri Lanka’s higher tax rate and lower re...
Sri Lanka's Corporate Income Tax (CIT...
Government revenue rose during the first...
During the first eight months of 2024, go...
Sri Lanka’s generous tax-free personal i...
Sri Lanka has the highest tax-free income...
Sri Lanka’s quick climb to the top perso...
Sri Lanka imposes its highest tax rate at...
Disparity in personal income tax burden...
Sri Lanka's personal income tax burde...
‘Asset Declarations Penalty Calculator’...
The Anti-Corruption Act No. 9 of 2023 int...
Sri Lankans enjoy most tax-free income i...
The comparison of Sri Lanka’s perso...
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Featured
Sectoral Allocations: Budget 2024
Sectoral allocations from the 2024 Budget.Allocations above only include Central Government allocations. Provincial allocations are not included...
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Schrodinger’s Banks: The Immediate Need for Polici...
This article was compiled by Professor Udara Peiris. Udara Peiris joined Oberlin in the fall of 2022. He was previously a tenured Associate Professor of Fi...
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State of the Budget Report Estimates 14% Shortfall...
Sri Lanka is projected to fall short of its budget target on revenue to GDP (gross domestic product) for the 33rd consecutive year in 2024, according to the recently released ‘State of the Budget Report 2024’.
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