Robust revenue, expenditure dip help sustain primary surplus so far in 24

Thursday, 4 July 2024 04:02 - - {{hitsCtrl.values.hits}}

Treasury Secretary Mahinda Siriwardana yesterday revealed that robust revenue collection has helped sustain the primary surplus so far this year.

He said that in the first five months of 2024, the Government revenue grew by 44% compared to the corresponding period of the previous year. During this same period, Government expenditure declined by 7%.

“The budget deficit narrowed by Rs. 653 billion or 64% to Rs. 367 billion in the first 5 months of 2024 compared to Rs. 1,019 billion during the first 5 months of 2023,” Siriwardena said during his address at the Awareness Building Workshop on proposed Trade National Single Window System Project in Colombo yesterday.

“In the first five months of 2023, the Government recorded a primary budget surplus of Rs. 42.7 billion. In the corresponding period of this year, the Government achieved a primary budget surplus of Rs. 554 billion,” he added.

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