Sri Lanka’s tax revenue has reached Rs. 3,400 billion by the fourth week of September, while the primary balance exceeded the annual target by over Rs. 200 billion, according to Economic Development Deputy Minister and Labour Minister Prof. Anil Jayantha Fernando.

Speaking at Parliament yesterday (25), Fernando said that by 23 September, the three main tax revenue collection agencies have achieved a tax revenue of Rs. 3,400 billion for 2025.

He said that the Inland Revenue Department (IRD) has collected Rs. 1,545 billion, achieving 103% of the target, Sri Lanka Customs has collected Rs. 1,679 billion, achieving 113% of the target, and the Excise Department has collected Rs. 176 billion, achieving 103% of the target by 23 September.

He added that Sri Lanka Customs has already surpassed the annual tax target of Rs. 450 billion from the importation of motor vehicles by 23 September by collecting Rs. 470 billion.

Moreover, Fernando said that Sri Lanka has already achieved the primary balance target of 750 billion for 2025 by having a primary balance of Rs 970 billion by September 23.

However, he said that the primary balance is expected to reduce to reach the annual targeted level with the increase of capital expenditure in the coming months.

Further, Fernando said that credit to the private sector by the banks has expanded by Rs. 1.4 trillion by 23 September.

He also added that the export revenue in the first eight months has reached $ 11.6 billion, while remittances are at $ 5.1 billion and tourism earnings at $ 2.29 billion.