• 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 to Rs. 2,565.9 billion and a rise in expenditure to Rs. 3,476.9 billion.

The Weekly Economic Indicators Report by the Central Bank of Sri Lanka reveals that the overall budget deficit from January to August 2024 decreased to Rs. 911.0 billion, down from Rs. 1,470.7 billion during the same period in 2023. Government revenue and grants rose to Rs. 2,565.9 billion, compared to Rs. 1,826.6 billion in the corresponding months of 2023, while total expenditure and net lending reached Rs. 3,476.9 billion, up from Rs. 3,297.3 billion in 2023. Net domestic financing declined to Rs. 742.4 billion from Rs. 1,376.8 billion, but net foreign financing increased to Rs. 168.6 billion, up from Rs. 93.8 billion in the same period of the previous year. By the end of July 2024, outstanding central government debt showed a slight increase to Rs. 28,703.2 billion from Rs. 28,695.9 billion at the end of 2023, with domestic debt at Rs. 17,761.8 billion and the rupee value of foreign debt at Rs. 10,941.4 billion.

Budget deficit decreased by Rs. 559 billion in the first eight months of 2024 | The Island