Friday, 02 January 2015 - 8:44
Sri Lanka budget deficit 5.0-pct of GDP by Sept 2014 amid slow revenues.
Sri Lanka has posted a budget deficit of about 5 percent of gross domestic product for the first 9 months of the year, amid slow revenue growth, but expenses have also been kept in check.
Data released by the Central Bank showed that revenues rose 5.6 percent from a year earlier to 828.2 billion rupees up to the third quarter slower than a 21 percent expected in the budget for 2014 and 17.3 percent revised budget presented to parliament in October.
Current expenses also rose at a slow 4.5 percent to 962 billion rupees, giving a revenue deficit of 133.9 billion rupees, also down in absolute terms from a year earlier by 1.7 percent.