Sri Lanka Records Rs. 498 Billion Budget Deficit in Q1 2025

• CNL Reporter
• May 8, 2025
• News
• Budget, Sri Lanka
• 0 Comments

Sri Lanka has posted a budget deficit of Rs. 498.28 billion for the first quarter of 2025, according to the Financial Performance Statement presented to the Cabinet.

The report, mandated under Section 53 (1) of the Public Finance Management Act, No. 44 of 2024, outlines government revenue and expenditure from January 1 to March 31.

Total revenue stood at Rs. 1,064.66 billion, comprising Rs. 970.58 billion in tax revenue, Rs. 87.26 billion in non-tax revenue, Rs. 5.77 billion in capital revenue, and Rs. 1.05 billion in grants.

Meanwhile, total expenditure reached Rs. 1,562.94 billion, with Rs. 1,226.55 billion allocated to recurrent expenses and Rs. 336.39 billion to capital spending, including loan repayments.

The statement consolidates financial data across ministries, departments, and district secretariats, and is submitted within 45 days of each quarter’s end, as required by law