Reuters, Mon Feb 15 19:29:59 EST 2010
COLOMBO: Sri Lanka could overshoot its 2009 budget deficit target set by the IMF for a $2.6 billion loan, due to high post-war reconstruction costs, a central bank official said on Monday. The IMF has set a budget deficit target of seven percent of gross domestic product for 2009, although both the global lender and the central bank have acknowledged it as a challenging one. Government spending on reconstruction after the end of a 25-year war in May and low revenue due to a sluggish economy were putting pressure on the deficit, Ranasinghe said.
[url=http://www.dailytimes.com.pk/default.asp?page=2010\0216story_16-2-2010_pg5_42]Full Story[/url]
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