Speaker flags impending revenue crisis

Speaker Karu Jayasuriya today flagged the new government’s impending revenue crisis.

“Keeping the budget deficit under control is going to be a major challenge, and a key indicator of fiscal discipline,” Jayasuriya said in a twitter message today.

The Speaker added, “Loan installment moratoriums from friendly nations could help. Yet, the government income has to rise again while keeping inflation under control.”

The current government has not yet revealed the actual revenue loss from its recently introduced tax concession regime.

The International Monetary Fund (IMF) last week cautioned Sri Lanka over its new policies and urged the Government to take measures to improve efficiency in the public administration and strengthen revenue mobilisation to help reduce the high public debt, while preserving space for critical social and investment needs. (Colombo Gazette)

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