Government records Rs.22.3 billion budget surplus in first nine months of 2026

EconomyNext reports a 22.3 billion rupee budget surplus for Sri Lanka from January through September 2026, compared with a 441.4 billion rupee deficit over the corresponding period in 2025. Hiru News also reports a surplus for the first nine months of 2026.

EconomyNext, drawing on the Ministry of Finance’s Fiscal Review Report for January–September 2026, says the improvement reflected a 20% increase in government revenue and restraint in expenditure growth. Revenue and grants amounted to 4,601.6 billion rupees, against 3,834.9 billion a year earlier, reaching 86.8% of the 5,300 billion rupee annual objective.

EconomyNext reports that tax revenue rose 19.3% to 4,252.1 billion rupees, with Sri Lanka Customs and the Inland Revenue Department (IRD) each supplying 47% of the total. Customs collected 1,981 billion rupees, equal to 89.8% of its annual target. Import VAT climbed 14% to 690.3 billion rupees, and Customs excise receipts increased 15% to 636.1 billion.

EconomyNext reports vehicle-related excise revenue advanced 9.1% to 381 billion rupees, representing 60% of Customs excise collections. The Ministry report, as relayed by EconomyNext, said increased revenue from imported motor vehicles was the main reason Customs neared its annual estimate. EconomyNext also reports the IRD collected 2,014 billion rupees, or 83.9% of its target; income tax rose 20% to 996.4 billion rupees, while domestic VAT grew 29%.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.