Sri Lanka budget 2022 targets deficit of 8.8-pct of GDP

ECONOMYNEXT – Sri Lanka is targeting a budget deficit of 8.8 percent of gross domestic product (GDP) in 2022 or 1,628 billion rupees, according to a prepared budget speech distributed to legislators on Friday (12).

The out-turn projected for 2022 is 11.1 percent of GDP or 1,826 billion rupees, Finance Minister Basil Rajapaksa said reading out the budget.

Sri Lanka is projecting total revenues to go up to 2,274 billion rupees in 2022 from 1,556 billion rupees in 2021.

Recurrent spending will go up from 2,817 billion rupees to 2996 billion rupees.

The current account deficit is projected to go down to 772 billion rupees from 1,261 billion rupees.

Capital expenditure will go up to 931 billion rupees from 582 billion rupees.

Revenue per GDP is expected to go up to 12.3 percent of GDP from 9.4 percent. (Colombo/Nov12/2021)

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