Sri Lanka’s 9-Mo Tax Revenue, Primary Surplus Beat IMF Targets

Sri Lanka’s tax revenue grew 32.5% to 3.56 trillion rupees in the nine months to September, beating an International Monetary Fund program target, according to provisional data released by the nation’s finance ministry.

• The primary surplus of the budget was 1.46 trillion rupees by September, compared with a primary balance indicative target of 300 billion rupees in the IMF program
• NOTE: The IMF program’s indicative target floor on government revenues is 2.75 trillion rupees for end-September
• The overall budget deficit by September narrowed to 441 billion rupees, from 970 billion rupees in the same period last year
• NOTE: Sri ...