State revenue up 30.7%, expenditure up 18.4%

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During the first two months of this year, government revenue increased 30.7 per cent according to the data released by the Central Bank of Sri Lanka, while State expenditure and lending widened 18.4 per cent.

The Central Bank pointed out that during the first two months of this year, government revenue reached Rs 311.5 billion, up 30.7 per cent compared to Rs 238.2 billion recorded a year earlier.

State expenditure widened 18.4 per cent to Rs 551.7 billion from Rs 446 billion a year ago.

According to the report, tax revenue increased 12.8 per cent during the first two months of this year to Rs 251.9 billion from Rs 223.2 billion recorded during the corresponding period last year.

Non-tax revenue improved 300 per cent to Rs 59.6 billion from Rs 14.9 billion.

On the expenditure front, recurrent expenditure increased 15.8 per cent to Rs 487.6 billion during the first two months of this year from Rs 421.1 billion a year ago.

Capita and net lending by the Government increased 43.3 per cent to Rs 64.2 billion from Rs 44.8 billion recorded during the same two months of last year.

During the first two months the overall budget deficit expanded by 5.4 per cent to Rs 480.5 billion from Rs 455.6 billion a year ago.

By Mario Andree