The Fiscal Management Report 2024 published by the Ministry of Finance, shows that the Primary Balance improved from LKR -317 Bn in the 3rd quarter of 2022 to a positive LKR 124 Bn in the 3rd quarter of 2023, as reported by publicfinance.lk.
The Budget Deficit, however, worsened from LKR -1,244 to LKR -1,614, this can be explained by rising interest costs.
Interest costs alone increased significantly from LKR 927 Bn in the 3rd quarter of 2022 to LKR 1,737 in the 3rd quarter of 2023.
