As per the Central Bank data, January to November workers’ remittances amounted to $ 5.4 billion, up by 63% from the corresponding period of last year.

In November the inflow amounted to $ 537.3 million as against to $ 517 million.

Last year workers’ remittances fell by 31% to $ 3.8 billion from $ 5.5 billion in 2021.

Sri Lankan budgets have consistently overestimated the capacity to raise revenue. Therefore, it is prudent to examine from where the 45% increase in revenue is expected. The increase (56%) is expected from increasing the VAT rate and reducing exemptions on it.