Budget deficit decreases by 64% in the first five months of 2024.

State Minister of Finance, Dr. Ranjith Siambalapitiya says that Compared to the first five months of last year, the budget deficit has decreased by 63.8% in the first five months of this year. The Minister points out that there was a budget gap of 1014 billion rupees between May 31, 2023. And he mentions that the budget gap has been recorded as 366 billion rupees during the same period of this year.

He emphasized that the country was able to reach this situation as a result of moving forward through a proper economic program. The Minister expressed these views as a guest of the ceremony organized by the Customs Department for the awarding of certificates to authorized economic operators. This will give certificates to 31 leading institutions in Sri Lanka and enable them to carry out their import and export activities without customs inspections. After many years of supervision of their import and export, has been given the opportunity to obtain this certificate.

Minister emphasized that the Sri Lankan Customs will make a special contribution to the country’s economy by meeting the revenue targets given by the government at all times. The minister mentioned that they have already managed to complete an income of 708 billion rupees out of the 1537 billion rupees revenue target given in 2024. The minister added that it is a special thing that the customs are successfully reaching those goals in a situation where the import of vehicles which is the main source of income, has been suspended. Finally, in the year 2018 when vehicles were imported into Sri Lanka, the minister emphasized that 204 billion or 22% of the total revenue of 923 billion rupees was obtained from vehicle imports. The minister further mentioned that 16% of the total revenue of 2019 or 130 billion rupees has been obtained from vehicle import.