Budget deficit widens amidst drop in revenue

COLOMBO (News1st): The government revenue in the first three months has declined and the budget deficit has widened. During the first three months of 2020, government revenue as a percentage of estimated GDP declined to 2.6 percent from 2.8 percent recorded in the corresponding period of 2019. Overall budget deficit as a percentage of estimated GDP increased to 2.1 percent during the first three months of 2020 from 1.8 percent recorded in the corresponding period of the previous year.