Fitch, the credit rating agency, has passed judgement on the Sri Lankan budget for 2017, and it is promising news. The budget will be in line with the stipulations of the IMF and will deliver key positive measures to boost the economy. However, Fitch points out that some of the predictions in the budget are optimistic and that the implementation of the plan is the more important aspect. The 2017 budget targets a fiscal deficit equivalent to 4.6% of GDP, down from an expected 5.4% in 2016 and 7.4% in 2015, when the deficit widened mainly because of sharp public-sector wage rises.

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