Sri Lanka is targeting a 7.9% of gross domestic product deficit in 2023, down from a provisional 9.8 percent in 2022, with higher revenue offset by steep rise in interest costs.
According to the budget presented by President Ranil Wickremesinghe today (14), the budget deficit for the fiscal year 2023 is estimated at Rs. 2,404 billion.
The total expenditure for next year will be Rs. 5,819 billion (19.2%) and the total revenue and grants will be Rs. 3,415 billion (11.3%).
