On November 14, Sri Lankan President Ranil Wickremesinghe, who is also the finance minister, presented the 2023 budget, along the lines dictated by the International Monetary Fund’s (IMF) savage austerity program. The government will receive a bailout loan from the IMF only if its demands are implemented.
* Value added tax (VAT) will be increased again next April. In September, the government raised this tax from 12 to 15 percent on all goods and services.
Source: wsws.org
