Dec 18, Colombo: The Ministry of Finance says state revenue has increased by 23 percent during the first 9 months of this year compared with the same period in 2015.
The Finance Ministry said in a statement that the state income in the first nine months of 2016 rose to Rs. 1.18 trillion from the Rs. 959 billion earned during the same period in 2015.
Finance Minister Ravi Karunanayake attributed the rise in income to increased efficiency in revenue collectors such as Sri Lanka Customs, the Inland Revenue Department and the Excise Department.
According to the statement a large percentage of state revenues is from the income taxes.
The statement also said the budget deficit has met expected targets and is at 5.4 per cent of the GDP during the period.