Total Government revenue and grants aided by high taxes increased by 37.49 per
cent (Rs 548.8 billion) to Rs 2,012.6 billion last year (2022), year on year (YoY),
Central Bank of Sri Lanka’s (CBSL’s) Friday’s (28 April) showed.
This increase was aided by tax revenue in the review period increasing by 34.91
per cent (Rs 453.1 billion) to Rs 1,751.1 billion. Tax revenue comprised 87.01 per
cent of total Government revenue last year.
In like developments, grant aid, 2022 over 2021, increased by 398.51 per cent (Rs
26.7 billion) to Rs 33.4 billion, data also showed. Further, non tax revenue in the
review period increased by 43.37 per cent (Rs 69 billion) to Rs 228.1 billion in
2022.
In related developments, Government expenditure in the review period increased
by 27.1 per cent (Rs 950.9 billion) to Rs 4,472.6 billion, CBSL statistics further
showed. In this connection, Government’s recurrent expenditure in the review
period increased by 28.11 per cent (Rs 772.1 billion) to Rs 3,519.6 billion and
Government’s ‘capital expenditure minus repayments’ was up by 23.08 per cent
(Rs 178.7 billion) to Rs 952.9 billion in the period under review, CBSL data also
showed.