23.4 C
State of Tripura
Thursday, August 28, 2025

Biplab Highlights Developmental Push, Slams Opposition Politics

Biplab Highlights Developmental Push, Slams Opposition Politics...

‘Lakhpati Didis’ Drive Rural Prosperity: Tripura CM

Tripura CM Manik Saha announced that 1,08,281...

Sri Lanka’s Finances Under Strain Despite 25% Surge in Tax Revenue

Must Read

Sri Lanka’s government finances continue to face significant strain despite a robust rise in tax revenue in the first half of 2025. Official data shows tax collections grew 25% to 2.2 trillion Sri Lankan rupees, while non-tax revenue rose 12% to 169.6 billion rupees. However, current spending reached 2.5 trillion rupees, up 13% from last year, driven by state salary increases and swelling interest costs.
Although the current account deficit – a key measure of fiscal health – fell 48% to 185 billion rupees, Sri Lanka remains unable to achieve the “golden rule” of budgeting, generating a surplus in current spending. This fiscal discipline has eluded the nation since the late 1980s, leading to structural deficits and repeated debt crises.
Sri Lanka had faced its worst-ever economic crisis in 2022 when it suspended its external debt commitments and has been making efforts to revive the economy ever since. 

- Advertisement -
spot_img
spot_img
spot_img

Latest News

Biplab Highlights Developmental Push, Slams Opposition Politics

Biplab Highlights Developmental Push, Slams Opposition Politics After Parliament Session Lok Sabha MP and former Tripura Chief Minister Biplab Kumar...