Sri Lanka, Dec. 4 -- This year's fiscal deficit is likely to reach 7% of gross domestic product (GDP) due to significant dip in revenue than expected mainly due to slow growth and increase in election-related spending, the Finance Ministry said in a statement."The expected fiscal deficit for 2019 will be more than the estimated and could settle around 7 percent of GDP, due to both a significant dip in revenue than expected mainly due to slow growth and increase in election-related spending."
"Thus, the government will make a concerted effort to recalibrate its operations along a sustainable deficit reduction path towards 4% of GDP in the medium term, together with a rationalization of the debt stock to manageable levels," the Finance Minis...