Sri Lanka revenue declines in first half this year

 
Sri Lanka government revenue declined as a percentage of estimated GDP in first half 2018 to 6.4 per cent from 6.7 per cent recorded in the corresponding period of 2017, a Finance Ministry report revealed on Monday.  
During the first half of 2018 total expenditure and net lending declined to 8.8 per cent of estimated GDP from 9.3 per cent recorded in the corresponding period of 2017.
 
Recurrent expenditure declined to 6.9 per cent of estimated GDP during the same period under consideration from 7.1 per cent in the corresponding period of 2017.
 
Capital expenditure and net lending declined to 1.9 per cent of estimated GDP from 2.2 per cent recorded in the same period of 2017.
 
As a per percentage of estimated GDP, the overall budget deficit declined to 2.4 per cent (Rs. 345.8 billion) in the first half of 2018 from 2.6 per cent (Rs. 332.6 billion) recorded in the corresponding period of the previous year, the Finance Ministry disclosed.  
The primary account, as a per cent of estimated GDP, improved to 0.3 per cent from 0.1 per cent in the corresponding period of 2017.
During the first half of 2018 net domestic financing declined to Rs. 184.9 billion compared to Rs. 269.5 billion in the corresponding period of 2017, whereas net foreign financing (NFF) increased to Rs. 161 billion during the period under review in comparison to Rs. 63.1 billion recorded in the same period of 2017. (Bandula)