Sri Lanka to Meet Deficit Target on Faster Growth, Minister Says

Sri Lanka will meet its budget-deficit target as economic growth boosts revenue, according to Senior Minister for International Monetary Cooperation Sarath Amunugama.

The end of a 26-year civil war in May 2009 has boosted consumer demand and investment in the island nation, which aims to cut its budget deficit to 6.8 percent of gross domestic product from 8 percent last year. It will meet the target without cutting social spending thanks to an economy which expanded by 8.6 percent in the fourth quarter, Amunugama said.