Sri Lanka’s 2025 budget demonstrates the government’s commitment to its IMF programme, in particular with the primary surplus target and introduction of additional sources of revenue to make up for shortfalls due to tax policy adjustments, Moody’s Rating said in a statement on Tuesday.
“However, the budgeted expenditure is higher than we have previously forecast – albeit due to higher interest payments – and will likely result in a wider fiscal deficit for 2025 and slower path of fiscal consolidation than our previous estimates. The budget underscores the challenge that Sri Lanka’s fiscal authorities will continue to face because of its still weak debt affordability, still narrow revenue base, and underlying social constraints," said Christian Fang, Vice President - Senior Analyst, Moody's Ratings.
A Thai woman walking topless in Arugam Bay town has been arrested by the Police.
The UK government has unveiled a package of reforms to simplify imports from developing countries which allows for more garments manufactured in Sri Lanka to enter the UK tariff-free.
The Cabinet has approved a proposal for Sri Lankans overseas to apply for their passports through an online system via the Lankan diplomatic missions.
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