Dark Horse

Sri Lanka’s chronic budget deficit, weak structural reforms and political instability, will show up prominently, as the island seeks a sovereign rating from three top international rating agencies later this year, analysts said. Sri Lanka’s chronic budget deficit, weak structural reforms and political instability, will show up prominently, as the island seeks a sovereign rating from three top international rating agencies later this year, analysts said. Treasury Secretary P B Jayasundara has said the country’s trying to contain the deficit to under nine percent of gross domestic product this year, from eight percent in 2004, caused by a hefty rise in public sector salaries, fuel subsidies and a shortfall in targetted revenues.

Key rating
factors, south/south East Asia

 

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