Jan-May Govt. expenditure rise by 47%, revenue by 38%; Budget deficit tops Rs. 1 t mark

Monday, 7 August 2023 00:24 - - {{hitsCtrl.values.hits}}

The Budget deficit in the first five months of this year had crossed the Rs. 1 trillion mark whilst rise in expenditure outpaced that of revenue.

According to the latest data released by the Central Bank, during January to May Government revenue and grants increased by 38% to Rs. 1.12 trillion as against Rs. 812.7 billion in the corresponding period of last year.

Total expenditure and net lending increased by 47% to Rs. 2.13 trillion in comparison to Rs. 1.45 trillion a year ago.

The resultant overall budget deficit rose to Rs. 1.01 trillion as against Rs. 636.7 billion in the first five months of last year.

CBSL also said domestic financing increased to Rs. 1 trillion as against Rs. 742.7 billion. Foreign financing recorded a net repayment of Rs. 63.3 billion in comparison to Rs. 106 billion.

Outstanding central Government debt decreased to Rs. 26.8 trillion by end April from Rs. 27.5 trillion as at end 2022. Total outstanding domestic debt amounted to Rs. 15.6 trillion while the rupee value of total outstanding foreign debt amounted to Rs. 11.1 trillion.