Annual Report 2008 - Ministry of Finance and Planning

8 Contents
Chapter 1 - Macro Economic Perspectives 20
Chapter 2 - Fiscal Developments 46
Chapter 3 - Performance of Public Enterprises 140
Chapter 4 - Reform Initiatives 174
Chapter 5 - Foreign Financing of the Budget 198
Chapter 6 - A Sectoral Perspective 236
Chapter 7 - Development Finance 260
Chapter 8 - Financial Statements - 2008 286
Tables
Table 1.1 - Medium Term Macro Economic Framework (2007-2011) 22
Table 1.2 - Budget Deficits of Selected Countries (% of GDP) 24
Table 1.3 - Price Increases, 2006-2008 June 26
Table 1.4 - External Trade 27
Table 1.5 - Manufacturing Sector Statistics 30
Table 1.6 - Sectoral Distribution of GDP Growth (%) 31
Table 1.7 - Selected Indicators of Service Sector Expansion 33
Table 1.8 - Gross Domestic Product – Sectoral Composition (2002) Constant Prices 34
Table 1.9 - Unemployment Rate by Level of Education 36
Table 1.10 - Movements in the Capital Market 42
Table 2.1 - Loss of Revenue due to Granting of Duty Waivers on Essential Commodities,
Petroleum Products and Motor Vehicles 48
Table 2.2 - Summary of Government Fiscal Operations 49
Table 2.3 - Income Tax Performance 50
Table 2.4 - Collection of Value Added Tax 52
Table 2.5 - Estimated Shortfalls in VAT Revenue 52
Table 2.6 - Excise Tax Performance 53
Table 2.7 - Excise Duty Rate Revisions on Cigarettes 54
Table 2.8 - Excise Duty Rate Revisions on Liquor 55
Table 2.9 - Motor Vehicle Imports 55
Table 2.10 - Estimated Shortfalls in Excise Duty Revenue 55
Table 2.11 - Estimated Revenue Loss on Import Duty due to Tariff Concessions Offered by Sri Lanka
under Major Trade Agreements during 2008 57
Table 2.12 - Revenue Loss due to the Imposition of Special Commodity Levy to Ease the
Cost of Living Considerations during 2008 58
Table 2.13 - Finance & Revenue Related Legislations (2007 November - 2008 December) 61
Ministry of Finance and Planning Sri Lanka
Annual Report 2008