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Govt. Expenditure Spikes by Rs. 1 t in Dec., Closes FY22 at Rs. 4.5 t

Government expenditure in December had swelled by Rs. 1 trillion despite the country declaring bankruptcy, a cash-strapped Treasury and multiple curbs on public sector spending.

Revenue from VAT increased by 50.2%, mainly reflecting the impact of the rise in price levels and upward revisions made to the VAT rate from June and September 2022

Source: www.ft.lk

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