Economy

Sri Lanka Sees 27.2% Jump in State Income in First Half of 2026

Published

3 weeks ago

September 11, 2026

Prime Minister Dr. Harini Amarasuriya outlined in Parliament the significant increase in government revenue recorded during the first six months of 2026, highlighting strong growth in both tax and non-tax income.

The Prime Minister stated that tax revenue, which stood at Rs. 2,152.1 billion during the first six months of 2025, increased by 25.9% to Rs. 2,710.6 billion during the corresponding period of 2026.

She further noted that revenue collected by the Inland Revenue Department rose from Rs. 1,037.9 billion in the first half of 2025 to Rs. 1,247.6 billion during the same period in 2026, reflecting a growth of 20.2%.

According to the Prime Minister, non-tax revenue also recorded a substantial increase. Revenue from non-tax sources rose from Rs. 169.6 billion during the first six months of 2025 to Rs. 243.6 billion during the corresponding period this year, marking a significant growth of 43.6%.

As a result, total tax and non-tax revenue increased from Rs. 2,321.7 billion in the first half of 2025 to Rs. 2,954.2 billion during the same period of 2026, representing an overall growth of 27.2%.

Dr. Amarasuriya explained that the increase in revenue collected by the Inland Revenue Department, Sri Lanka Customs, and the Excise Department had been the primary drivers behind the rise in overall government revenue.

Economy

Govt saving Rs. 5.7B through price regulation of 13 expensive medicines

Published

1 day ago

October 4, 2026

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The National Medicines Regulatory Authority (NMRA) says the government’s estimated savings from regulating the prices of 13 major high-priced medicines amount to Rs. 5.7 billion.

NMRA Chairman Specialist Dr. Ananda Wijewickrama made this statement at a media briefing held in Colombo today (01).

He further said that the savings to the public would vary depending on the medicines they purchase.

He noted that the medicines whose prices had been reduced are mainly those that patients require for long-term use.

Economy

CBSL Governor says Fitch upgrade reflects Sri Lanka’s progress on economic reforms

Published

6 days ago

September 29, 2026

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The Governor of the Central Bank Dr. Nandalal Weerasinghe said Sri Lanka’s sovereign rating upgrade by Fitch Ratings from ‘CCC+’ to ‘B-’ with a Stable Outlook reflects ongoing progress in macroeconomic stabilization and reforms.

Speaking at the 49th Annual General Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) on September 23, Dr. Weerasinghe stated that the restoration of stability following the severe economic crisis has provided a stronger foundation for the country’s next development phase.

“This progress has also been recognised by the upgrade of Sri Lanka’s sovereign rating by Fitch Ratings to ‘B-’ from ‘CCC+’, with a Stable Outlook, announced, reflecting the continued progress in macroeconomic stabilisation and reforms,” he added.

Economy

Sri Lanka ranked among top 10 global risers in tourism

Published

1 week ago

September 28, 2026

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Sri Lanka has been ranked among the top 10 countries in the world for the fastest improvement in the Travel and Tourism Development Index between 2024 and 2026, according to the 2026 Travel and Tourism Development Index released by the World Economic Forum (WEF).

Sri Lanka has been ranked 10th on the list, with its Travel and Tourism Development Index score increasing by 4.33% in 2026 compared to 2024.

Albania ranked first, recording a 7.0% increase in its index score.

Vietnam and Laos ranked second and third, respectively, with increases of 6.3% and 6.1% in their index scores.