Sri Lanka’s government projected a lower-than-anticipated budget deficit for 2024 on Monday on the back of a significant jump in revenues which are crucial to keep its bailout programme from the International Monetary Fund afloat.à
The central bank expects growth of 3.3% in 2024, when the country will hold presidential elections.
The cabinet had already approved raising Value Added Tax (VAT) by 3% from Jan. 1 and broadening collection.
Source: Reuters
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