Sri Lanka has reported a budget deficit of Rs. 498.28 billion for the first quarter of 2025, according to the Financial Performance Statement submitted to the Cabinet of Ministers.
The report, covering January 1 to March 31, 2025, shows total revenue at Rs. 1,064.66 billion and total expenditure at Rs. 1,562.94 billion, including income and spending across all Special Expenditure Units, Ministries, Departments, and District Secretariats.
The revenue breakdown includes Rs. 970.58 billion from taxes, Rs. 87.26 billion in non-tax revenue, Rs. 5.77 billion in capital revenue, and Rs. 1.05 billion in grants. On the expenditure side, Rs. 1,226.55 billion was spent on recurring costs, while Rs. 336.39 billion went toward capital expenditure, including government loan repayments.
The Financial Performance Statement was presented in line with Section 53 (1) of the Public Finance Management Act, No. 44 of 2024, which mandates the submission of quarterly fiscal data within 45 days of each quarter's end.
Meanwhile, the Central Bank of Sri Lanka reported a 3% drop in official reserve assets at the end of April, down to USD 6.32 billion from USD 6.53 billion in March.
A Sri Lanka Air Force Bell 212 helicopter belonging to the No. 72 squadron has crashed into the Madhuru Oya reservoir this morning, Air FOrce Media Spokesman Eranda Geeganage said.
Read this week’s Sunday Times for your interesting articles including the ’’5th Column’’.
In its first electoral test since taking power, the ruling National People’s Power (NPP) fell short of expectations, winning only around 40 % of the national vote in Tuesday’s local government election and falling short of enough seats to gain control of the majority of councils.
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