Sri Lanka Government Revenue Goes up in 2010

16th March 2011, www.news360.lk

The Sri Lankan government’s revenue during the first eleven months of the year 2010 has risen by 16.5% to stand at Rs. 737 billion compared to the last year same periods Rs. 633 billion.

Government has spent Rs. 852.8 billion as recurrent expenditure up to November 2010, which is an increase of 3.1% over the corresponding period of 2009.

In 2009, during the same period only Rs. 827 billion has been incurred on recurrent expenditure.

The Capital expenditure including net lending during the same period has jumped by 17.7% to reach Rs. 306.2 billion.

Up to November 2009, the spending on capital expenditure and net lending has been Rs. 260.2 billion.

During the year 2010, the Government’s sourcing of funds from the domestic market has gone down by 14.8%.

Accordingly, up to November the Government has borrowed only Rs. 172.8 billion from the domestic sources, which has mainly come from selling Treasury bonds and bills.

Sourcing of funds from the foreign sources has marginally gone up by 3.2% to stand at Rs. 236.8 billion, during the year 2010 first eleven months.

Related Info :

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• Sri Lanka Bank Lending to Private Sector up 27.8pct in 2010. New Loans Rs290bn. Reduction in Current Interest Margin of 4.5pct Urged

• Sri Lanka's $ 1bn 10yr Sovereign Bond May Yield 6.5pct and Expected to be Comfortably Oversubscribed

• Sri Lanka’s Equity & Capital Market Sees $459mn Net Inflow in 2010 from Total Inflow of $1.91bn