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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.
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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.
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Key rating factors, south/south East Asia

 

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