Sri Lanka’s first quarter budget deficit at Rs. 498 bn
May 8, 2025 12:23 pm
Sri Lanka’s government has recorded a significant budget deficit of Rs. 498.28 billion in the first quarter of 2025, according to the Financial Performance Statement submitted to the Cabinet of Ministers.
The Financial Performance Statement is presented periodically to the Cabinet in line with Section 53 (1) of the Public Finance Management Act, No. 44 of 2024.
The report, covering the period from January 1 to March 31, 2025, details that total revenue amounted to Rs. 1,064.66 billion, while total expenditure reached Rs. 1,562.94 billion. The figures include cumulative income and spending across all Special Expenditure Units, Ministries, Departments, and District Secretariats.
Breakdown of revenue:
Tax Revenue: Rs. 970.58 billion
Non-Tax Revenue: Rs. 87.26 billion
Capital Revenue: Rs. 5.77 billion
Grants: Rs. 1.05 billion
Breakdown of expenditure:
Recurring Expenditure: Rs. 1,226.55 billion
Capital Expenditure (including government loan repayments): Rs. 336.39 billion
The Financial Performance Statement was submitted to the Cabinet of Ministers in accordance with the legal requirement to present quarterly fiscal data within 45 days of the end of each quarter.
