Sri Lanka

Sri Lankan budget falls flat (again)

  • After slipping from 8.8% to 11.1% of GDP in 2021, MoF targets consolidation to 8.8% of GDP in 2022 and 4.8% by 2025

  • Budget is built on unrealistic assumptions with lack of concrete revenue and spending measures, so slippage is likely

  • Budget will fail to resolve economic and debt crisis, with default increasingly inevitable; retain Sell on eurobonds
November 15th, 2021
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