IMF stresses need for stronger revenue measures in Budget 2026

CALLS FOR STRONGER REVENUE MOBILISATION AND MORE PRUDENT SPENDING, IN LINE WITH PROGRAMME COMMITMENTS UNDER EFF

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STRESSES BUDGET 2026 SHOULD BE UNDERPINNED BY STRONG REVENUE MEASURES AND APPROPRIATE SPENDING ALLOCATIONS, CONSISTENT WITH PROGRAMME PARAMETERS

ACKNOWLEDGES TAX REVENUE PERFORMANCE HAS IMPROVED IN RECENT MONTHS, HELPED BY STRONGER COLLECTIONS FROM VAT AND LEVIES ON IMPORTED MOTOR VEHICLES

CALLS FOR REFORMS TO STRENGTHEN TAX EXEMPTION FRAMEWORKS, BOOST TAX COMPLIANCE, BROADEN TAX BASE AND ENHANCE PUBLIC FINANCIAL MANAGEMENT

The International Monetary Fund (IMF) yesterday stressed the importance of firm fiscal discipline, as Sri Lanka prepares its 2026 national budget.

It called for stronger revenue mobilisation and more prudent spending, in line with the programme commitments under the Extended Fund Facility (EFF).